Japanese Yen futures reversed lower before BOJ meeting.

Japanese Yen futures reversed lower after 5 consecutive sessions of gains, failing to overcome technical resistance at the 50-day moving average. Markets reacted to strong economic data out of Japan, including a trade surplus of 322.2 billion yen and improved manufacturing PMI that exceeded analyst forecasts. Traders remain focused on the upcoming Bank of Japan meeting, where a 25 basis point rate hike is anticipated to impact the interest rate differential with the U.S. Federal Reserve and the appeal of the yen carry trade.