The yen's focus remains squarely on BOJ Gov. Ueda's guidance at his post-meeting press conference today, following suspected yen-buying intervention by Japanese authorities on Thursday, according to Stone X senior market analyst Matt Simpson. "If policymakers want to capitalize on the yen's renewed momentum, even a slightly hawkish tilt—such as higher growth or inflation forecasts, or guidance that leaves the door open to further tightening—could help extend Thursday's gains," Simpson noted in his commentary.

Currency markets showed modest moves in early trading. The U.S. dollar rose 0.4% to 160.21 yen, while the Australian dollar gained 0.3% to Y113.83. The euro added 0.4% to reach Y184.64, according to LSEG data. Traders are parsing every word from the central bank chief for signals on whether the Bank of Japan will maintain its current policy stance or signal additional rate hikes in coming months.

The suspected intervention on Thursday marked a significant moment for currency markets, as Japanese authorities stepped in to support the yen after it weakened past key psychological levels. Market participants now await Ueda's assessment of economic conditions and inflation outlook, which could determine whether the yen's recent strength has staying power or proves fleeting.