JPY outperforms following comments from BoJ Governor Takata. He commented that the central bank’s price target was ‘finally coming into sight’, suggesting the BoJ may be closer to a rate hike. 

USD/JPY is still some way from technical support at 149.55 that could unlock a drop back to the 148.00 area but the prospect of a spring start to a mild round of monetary tightening from the BoJ would bolster prospects of a Q2 rally in the JPY, in line with seasonal patterns.