The USD/JPY pair remains undermined by the ongoing rally in th | XAUUSD (GOLD) PIPS SCALPING

The USD/JPY pair remains undermined by the ongoing rally in the Japanese yen ahead of the Bank of Japan (BoJ) policy announcements this week. Japanese exporters bore the brunt of a stronger Yen, as the Nikkei 225 index fell 1%. Expectations heightened that the BoJ could tweak its policy settings on Wednesday after it failed to defend its yield curve policy once again on Monday. The 10-year JGB yield rose 1 basis point to 0.510%, topping the 0.5% ceiling of the BOJ's policy band. The pair hit an eight-month low at 127.24, earlier on, before recovering toward 128.00.