Sell on a level breakthrough of 119.68 with 118.79 target. Stop loss = 120.30.
Reason for the trading strategy
The Bank of Japan has kept unchanged its policy of increasing the monetary base by 80 trillion yen per year. The Bank of Japan kept its principal assessment of the economy unchanged. According to the regulator, the national economy is following a trend of moderate recovery. It is unlikely that additional monetary easing will be required in the country.
October 28, 2016 Calm before the storm?
The main interest on the majors overnight has been the move above the 105.00 level on USDJPY, which has continued the weaker yen theme prevalent through most of the month. Data overnight showed the core inflation rate (ex-fresh food) remaining in negative territory at -0.5% YoY...
October 28, 2016 NZ bounces of key support levels
NZ trade balance data rattled the NZ economy yesterday as it came in below expectations at -1.436B NZD....
October 27, 2016 Sterling falls notwithstanding UK GDP
On Thursday, the British pound sagged against the greenback, notwithstanding data on third quarter growth showing that Britain’s economy shrugged off the immediate shock of the Brexit referendum...
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