Seasonal strength to support yen? - Nomura

Analysts at Nomura explained that the Japanese business conditions deteriorated slightly in Q2, according to the MoF’s survey but respondents expected a pick-up in activity in the second half of the year. 

Key Quotes:

"The JPY is slightly softer on the day but this is mainly in response to weaker equities reducing demand for safe havens."

"BoJ policy announcement Thursday is expected to see policy settings left unchanged."

"Recall that seasonal trends favour JPY strength through June."