"The government cut its assessment on exports, imports, IP, personal consumption and housing", says BBH. "BOJ would also downgrade its outlook likewise the government at the next meeting on September 19".
"Downgraded outlook could be the driver that will make the BOJ ease again", they add. "Dollar/yen has made a series of higher lows this past week, and appears to be setting up a test of the 79 area in the coming days. Daily trendline drawn off the August 1 low comes in near 78.40 and should offer near-term support".