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Hi All!
Big day today, from both side of the world. BOJ and BOE...
To start with - JPY has been one of the worst performer last year - BEAR. And in addition, there is likely hood of further QE measures by BOJ. Result - Yen will further weaken - perhaps it is a deliberate move, also says, passive suppression of currency rate by the BOJ. The recent pull back in all YEN crosses has made JPY even more tempting for SHORT positions,
On the contrary, there could be further continuation of JPY corrections too. As I am writing this, BOJ rate decision has been released and GBPJPY has gone down about 40pips and it's still pushing below.. It could be a short spike, before JPY sell off begins. But if it is not and it is BOJ of JPY who/which is going to be the VICTOR. I will be glad to be stopped out...
On the other side of the Spectrum - GBP has been an absolute BULL... Approaching UK jobless claim, UK ILO Unemployment Rate
and BOE minute... Things could be bloody!
It will be interesting to see today who will stand Victor and who will be the loser!!
Good luck trading out there!
...Anil.
Big day today, from both side of the world. BOJ and BOE...
To start with - JPY has been one of the worst performer last year - BEAR. And in addition, there is likely hood of further QE measures by BOJ. Result - Yen will further weaken - perhaps it is a deliberate move, also says, passive suppression of currency rate by the BOJ. The recent pull back in all YEN crosses has made JPY even more tempting for SHORT positions,
On the contrary, there could be further continuation of JPY corrections too. As I am writing this, BOJ rate decision has been released and GBPJPY has gone down about 40pips and it's still pushing below.. It could be a short spike, before JPY sell off begins. But if it is not and it is BOJ of JPY who/which is going to be the VICTOR. I will be glad to be stopped out...
On the other side of the Spectrum - GBP has been an absolute BULL... Approaching UK jobless claim, UK ILO Unemployment Rate
and BOE minute... Things could be bloody!
It will be interesting to see today who will stand Victor and who will be the loser!!
Good luck trading out there!
...Anil.