Forex Flash: Near-term USD/JPY top at 94.50 may be in place - NAB

The Yen continues to be exposed to the headwinds from the Bank of Japan’s anticipated shift to a more aggressive easing policy, comments NAB research team. The Australian-based institution adds that "the recent G7’s shot across Japan’s bows means policy makers may begin to soften their anti-JPY rhetoric." In this environment, "a near-term USD/JPY top may be in place around 94.50, at least until the new, more dovish BoJ Governors are installed in late March" NAB says.