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Opportunities in non-Yen pairs post BOJ

One of my favorite pastimes is looking for trades in pairs which shouldn’t be affected by currency-specific risk events.
Today’s BOJ decision should only affect the JPY pairs but invariably we get pairs like GBP/AUD or EUR/CHF making moves when some big Yen event happens.
Wait for ‘silly’ moves in these sort of pairings when the Yen market turns volatile and then take intraday trades looking for the market to return to equilibrium.
For instance, if USD/JPY starts falling heavily after the BOJ but EUR/CHF rises temporarily, then I’d look to sell as it will usually follow the EUR/JPY lead or at least return to ‘normal’ levels.

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