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DAY 31 - Bank of Japan QE Program

Just checked charts on JPY pairs and what a volatile move in overnight session on the last day of month. I didn't see it coming at all. Perhaps Bank of Japan shocked the currency market by announcing a surprising expansion of its QE program which sent USD/JPY to highs not seen since 2008 and the pair broke through the 111.00 barrier. The dramatic new increase in QE was utterly unexpected by the market with Nikkei also soaring nearly 5% in response to BOJ new policy actions.
As a result of this v…
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JPY STRENGTH

USDJPY has broken below 102 continuing its slide against JPY on the heels of the BoJ's disappointing lack of additional money-printing. Since Friday USDJPY has fallen over 250 pips along with other major currencies such as EURJPY, GBPYJPY, AUDJPY.
In fact USDJPY had its biggest daily drop in 8 months after stimulus hope premia is removed from the FX carry trade juicer. This dive has driven Nikkei 225 futures down almost 1000 points from Friday's
highs.
The BoJ is expected to add more stimulus by…
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