Goldman Sachs on what the next move from the Bank of Japan is likely to be

ICYMI, pivot from the Bank of Japan yesterday:

• ForexLive Asia-Pacific FX news wrap: BOJ pivot sends the yen rocketing higher across board

Follow through for the yen in Europe and America times:

• ForexLive European FX news wrap: Yen flying high after BOJ policy tweak
• Forexlive Americas FX news wrap: Yen hits new highs as the BOJ fallout continues

More:

• BOJ YCC pivot shock: "USD/JPY could be into the 120’s sooner than we expected" says MUFG
• BOJ YCC shock pivot - "risks remain skewed to the downside for USD/JPY"

Goldman Sachs say that they expect the next step from the Bank of Japan could be elimination of the negative interest rate. This refers to the current BOJ policy of a -0.1% target for short-term rates.