Strategist: The Japanese yen may continue to weaken after the Bank of Japan maintains interest rates unchanged. According to Golden Jubilee Data on January 23, strategists stated that the recent weakness of the yen is unlikely to be contained after the Bank of Japan maintains interest rates as expected. Hiromi Ishihara, an analyst at Orient Bank Japan, stated that the market actually suggests that current interest rates may be too low relative to current inflation levels. In the short term, we expect the yen to further weaken, but we also anticipate that the government may intervene. Therefore, I do not believe that there will be a disorderly sell-off of the yen, but I also do not think that the yen will appreciate in the short term. Nomura Securities analyst Yujiro Goto stated that the information conveyed by the Bank of Japan indicates that it is aware of the possibility of raising interest rates in April. Prior to this meeting, the market had already fully priced the expectation of a rate hike in July. Despite the hawkish signals, pressure for the depreciation of the yen still exists before the press conference of the Bank of Japan Governor.