December Japanese Yen futures are putting in a technical base with a double bottom reversal pattern. The pattern, formed by the lows on October 10 and October 27 and a peak on October 17, has a target just below the 200-day moving average, currently near 6,896. This high-probability pattern will only trigger on a close above the October 17th peak. The yen is supported by the Bank of Japan's (BOJ) cautious stance on further interest rate hikes, which contrasts with other central banks like the Fed that are dialing back tightening. The BOJ, which meets tonight, is expected to hold its policy rate at 0.5% despite rising inflationary pressures near the 2% target. The BOJ's stance reduces the yield gap between Japanese and US bonds, making the yen more attractive to investors seeking stability. Additionally, new Japanese Prime Minister Sunaina Takeuchi is preparing a significant fiscal stimulus package, expected to exceed last year's $92 billion, aimed at tackling inflation and boosting growth.