JPY crosses

Expect fairly quiet trade ahead of the BOJ decision

The BOJ will be starting their meeting at an earlier than usual time today, probably because they have more to discuss than usual. I suspect that most of the main players have already done their pre-meeting positional adjustments so we should have a fairly quiet Asian morning.

Main interest will be focussed on this afternoon’s statement, not on the rate decision, although the amount of extra spending will of course have a big impact on market sentiment.

I’m really not sure at this time whether or not to expect a sell-rumour-buy-fact event so I’m staying square on the Yen and will await some trading opportunities.

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