Tuesday delivered the largest single-session equity shock in Asia this year, and the currency that is supposed to be bought when Asia breaks did not move. Stable implied volatility and a policy rate of 1.00% will do that. With Tokyo's core measure running near 1.7%, the real policy rate remains negative regardless of what the board says on Friday. Friday's rate decision carries no scheduled time, with the outlook report at 03:00 GMT and the press briefing at 06:30 GMT. The 50-day Exponential Moving Average near 161.50 is the trend line, rising steadily, and the 200-day sits far below near 157.00.