EXNESS - Analytics

    EXNESS

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    USDJPY: growth after the Bank of Japan meeting

    Buy on a level breakthrough of 123.62 with 124.36 target. Stop loss = 123.12.

    Reason for the trading strategy

    The Bank of Japan lowered its forecast for economic growth and inflation for 2015, but it has kept unchanged the key policy of increasing the money supply by 80 trillion yen a year.
    The news is neutral for the yen. At the same time, the stabilization of the situation in the Chinese stock market, the agreements on the Iranian nuclear program and the Greek debt problems contribute to the growth of the number of yen carry trade transactions.

     

    USDJPY, H4

    USDJPY


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