Forex: USD/JPY down ahead of tomorrow's BoJ meeting (Barcelona) - As the USD/JPY consolidates past gains, the market moves down on Monday, testing Thursday and Friday's closing prices, and quoting around 81.16 at the moment of writing.

Technical indicators suggest overall strength despite today's weakness and investors are curious in what the BoJ officials have to say about Shinzo Abe's (former PM and candidate for the Dec-16 election) remarks about changing the BoJ rules and pushing for an agressive monetary policy stance.

“I think, that current swings are a part of a broad consolidation pattern and I favor a slide for a test of 80.60 support area before next leg upwards, to 83.10”, wrote analyst Stoyan Mihaylov.