FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank noted the release of stronger than expected industrial production data ahead of the BoJ. See here for latest USD/JPY price action Key Quotes: "The release had been a key risk for JPY following last week’s disappointment in trade, with market participants positioning themselves in anticipation of a dovish shift in tone at the BoJ." "JPY remains vulnerable to data ahead of the BoJ, with CPI scheduled for release at 7:30pm EST, ahead of the policy decision around 11:00pm EST." "We are biased to JPY weakness, expecting an extension of the time frame for achieving the inflation target to reinforce policy divergence between an accommodative BoJ and a normalizing Fed." "We note the potential for an increase in the pace of asset purchases (currently 80trn), however it is not our base case." For more information, read our latest forex news.