FXWW News/Trade Ideas/USD/JPY

USD/JPY: Still bullish ahead of BOJ on Thursday

The market really wants to buy this pair given the fundamental outlook but we can still expect occasional sharp sell-offs as the market is already quite long. Bulls will be hoping that the BOJ statement on Thursday contains more easing measures.

I’d expect the market to stay moderately bullish early in the week with all the usual guesswork and speculation and the bears may have their day in the sun towards the end of the week, after the event.

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