Heads up for Japan market holiday this week, and then three the following week

A brief market note: the Bank of Japan meets tomorrow and is widely expected to hold rates but signal a hawkish tilt toward a June move. Nomura says the BOJ may lean more hawkish to ease pressure on the yen. Market participants should also note upcoming Japan market closures: a holiday this Wednesday, then three consecutive closures (Monday–Wednesday) next week for Golden Week. The combination of a potentially hawkish BOJ message and reduced liquidity around the holidays raises the risk of outsized yen moves and wider USD/JPY volatility; traders should watch BOJ remarks and thin market conditions.