• USD/JPY closed up 0.24% at 142.63 on Thursday, after twice failing to break above 144.00. The pair did closed above the steep descending trendline. A hawkish outcome to the BoJ policy decision later today may caused the pair to resume it's downward trend that started in July.
• National CPI has come out in line with expectations at 3.0% y/y, Natl CPI Ex Fresh Food 2.8% y/y, while Natl CPI Ex Fresh Food, Energy was 2.0% y/y. There has been no reaction in the JPY.
• The BoJ is expected to keep its benchmark interest rate unchanged, with traders closely monitoring for any hints of potential hikes later this year. While there is unlikely to be any move in the interest rate, focus will be on Governor Ueda's possible hawkish remarks, which could impact the market and influence yen trading. Initial support is seen at 140.00 area (September 16 lows), while resistance  
• There was some broader USD weakness that crept into the market on Thursday with short-end US tsys yields falling 3.6bps to 3.581%. US data was mixed with jobless claims falling to 219k vs 230k expected, short-end yields did initially spike on the data although entirely reversed those moves by the close.
• Up next we have Japan investors flows, with focus then turning to the BoJ with no set time for the data release, typically the data comes out around the Japan lunch break.
• Note in the option expiry space, today we have 143.50 ($1.21b), 145.35 ($1.02b), 145.40 ($1.01b)

Chart: USDJPY Breaks Descending Trendline