Japan’s top government spokesman said on Wednesday that the timeline for vaccinating the broader population against the coronavirus would be decided and disclosed to the public after the approval of a vaccine. Chief Cabinet Secretary Katsunobu Kato made the comment at a news conference in response to a question about media reports that the government was considering doing so as early as in May.

Elsewhere, Bank of Japan (BOJ) is likely to maintain its monetary policy setting this Thursday; the central bank could reassess the Japanese economic outlook, in light of the covid developments in the country. The government has so far said it would prioritise medical workers, the elderly, and those with pre-existing conditions in its vaccine programme expected to start by the end of February, but has not provided a timeline beyond that.

The government will decide based on the jobs situation as to whether to extend special employment support beyond March said Prime Minister Yoshihide Suga. He also said that there seems no need to amend 3rd extra budget already compiled to fund coronavirus steps. He has confirmed close cooperation with the US and other nations to solve North Korea abduction issue.”

On the other hand, Trump, who for months made false claims that the Nov. 3 election was stolen from him, has encouraged his supporters to march on the Capitol while lawmakers were certifying Biden’s victory. A riot led to the evacuation of the building and five deaths. “Let us not be naive that a lot of damage has been done to the American image for the last four years, and more specifically, what happened,” on Jan. 6, said David O’Sullivan, former European Union ambassador to Washington.

Biden, vice president under Barack Obama and a former senator with decades of foreign policy experience, has pledged to repair tattered strategic alliances, while also attempting to re-establish U.S leadership on climate change and take a more prominent role on the global response to the coronavirus.

But veteran diplomats and foreign policy experts said a sharply divided American society – one at risk of political violence – will make Biden’s job harder and distract from the hard work of restoring U.S. leadership.

USD/JPY 4 Hour Chart:

Support: 103.67 (S1), 103.45 (S2), 103.24 (S3).

Resistance: 104.11 (R1), 104.31 (R2), 104.54 (R3).

All the catalysts favors yen against greenback and we expect a bearish trend for USD/JPY.