USD/JPY flows: Consolidate before the coming BoJ meeting

We had comment from Japan economy minister Akazawa reiterates BoJ will conduct monetary policy appropriately, which means little after earlier "leak" last week suggest the BoJ is tilted towards on hold or at least what market participants are perceiving. Still, no one would like to be caught wrong footed and seems to have driven to a consolidation in USD/JPY on Tuesday.

USD/JPY retreated from the 154 figure to trade 0.19% lower at 153.82.