USD/JPY: BoJ coming up while sentiment drives the yen - Scotiabank

Analysts at Westpac explained that sentiment remains dominant.

Key Quotes:

"Sentiment remains dominant.and continues to provide considerable support to JPY, offsetting the drag from yield spreads trading just below their recent multi-year highs."

"Near-term domestic risk includes the release of the BoJ minutes from late January and trade figures for February. We suspect that JPY continues to take its cues from the broader tone."