I have a question about your risk management, this morning you have exited your EUR/JPY with the BOJ’s event and the next week we have RBA’s meeting, i guess you would stay with your position during this events, isn’t it ? What is the difference between this two events ?

The BOJ disappoints, just as expected and predicted.

Regarding EURUSD, my recommendation is to buy dips in between 1.2835 (200DMA) and 1.2815 (horizontal resistance) with SL below 1.28 and objectives 1.2850, 1.2890. Same as yesterday, and I still doubt that we get there today.

Analysis: Yesterday we closed below the master trend line support from 1.20. However, this occured on low volume and therefore, it remains unclear if we did or not breakout this important support. This morning the market is slightly bearish, but seems ready to rebound. The decision of the BOJ could trigger some EUR buying, since EURJPY could be the best vehicle to profit from weakness in the yen. This would cause the EURUSD to go higher artificially. The market is now in a very tight range between 1.2880 and 1.2925. And most likely, moves outside of this range should give +20/30 pips above or below. This is a difficult market to trade since the US will be out again today…

I might enter long this morning at 1.2850 if get there in the coming hour, for some scalping. One can also short EURJPY at 105 (!!!) for some short scalping if the marget gets over-excited by the BOJ easing and reaches this level within 1-2 hours from now.

Good luck.

The BoJ usually holds its 2-day monthly policy board meeting in the middle of the month.

But in April and October, the BoJ holds another 1-day policy board meeting near the end of the month to review its semiannual economic outlook.