The Japanese yen could weaken as the Bank of Japan Governor Kazuo Ueda might suggest no imminent changes to its yield curve control policy at Friday’s meeting, RBC Capital Markets says. RBC advises selling the yen against the Swiss franc, targeting a CHF/JPY level of 157.50 with a stop loss of 153.00. CHF/JPY last trades at 154.560.

Betting against the yen is the right trade ahead of the BOJ meeting but USD/JPY price action is likely to be dominated by U.S. inflation data on Tuesday and Federal Reserve meeting on Wednesday, so “we play JPY weakness on a risk-neutral cross,” RBC currency strategist Adam Cole says in a note.