The USD/JPY pair is trading below the 148.00 mark, indicating a heavy sentiment in the market. Analysts from BBH suggest that the Bank of Japan (BoJ) is likely to normalize interest rates more than what is currently priced in by the market. This forecast signals a potential realignment in trader expectations as they respond to changing economic policies. Keeping an eye on BoJ updates and their implications on interest rate adjustments will be crucial for traders monitoring this pair. Volatility could arise as the market recalibrates based on unfolding economic narratives.