USD/JPY slips to a session low of 111.75

Abe's comments here didn't contain anything too substantial and is merely repeating what he said earlier in the day here as well. And much like the comments earlier in the day, the yen is picking up a few pips on the back of it.

They didn't pertain anything to monetary policy per se but it's all about his relative comfort in speaking about normalising and exiting from current stimulus measures. It's a very slight change in stance for Japanese officials considering how dovish they have been over the past decade or so and it could be a hint that the winds are changing in Japan.

No, it isn't going to in the next BOJ meeting or next year. But potentially this could be something to look out for in the longer-term as we move towards 2020 or 2021. In essence, markets should be prepared for a possible change in rhetoric when it comes to the BOJ in the future - even if it means not making any policy changes.

When it comes to the BOJ, just talking about normalising policy and raising rates is enough to send the yen soaring, so that's something to keep in mind when you're planning out a more structural view on the currency.

As for now, the yen is ticking higher a little across the board but it's no major move by any means. For USD/JPY, price momentum in the near-term is still more bullish but the failure to hold a break above 112.00 isn't encouraging for buyers to extend gains further at this point.