Saxo Bank’s Head of FX Strategy John Hardy looks at the various factors likely to drive USDJPY price action over the next 48 hours.

The currency pair plunged in April after a Bank of Japan meeting failed to deliver what the market expected. Since then, USDJPY has climbed higher, but the key question is whether speeches from US Fed officials on Thursday or from BoJ governor Haruhiko Kuroda on Friday will trigger any big moves and in which direction, Hardy says. 

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