USD/JPY seeing a few bids ...Middle East

We've had May Money Suppy data from Japan. This is not a market mover but FWIW its come in at +1.9% y/y vs. +2.1% expected and +2.6% in AprilThe Bank of Japan meet this week and yen traders are on edge over the question of further tightening from the Bank. If we get anhy it'll likely be a reduction in JGB buying. Nikkei: Bank of Japan will 'consider' whether to scale back its monthly JGB purchasesThe US CPI and FOMC are also risk events ahead:US CPI and FOMC due this week - UBS previewUSD/JPY up This article was written by Eamonn Sheridan at www.forexlive.com.

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