EXNESS - Analytics

    EXNESS

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    Real

    The Bank of Japan is getting ready to expand the asset purchases program

    Buy on a level breakthrough of 110.66 with 111.36 target. Stop loss = 110.16.

    Reason for the trading strategy

    According to Reuters, the Bank of Japan may decide on additional stimulus measures on the meeting to be held on April 27-28. The most likely option would be to increase the note issue, rather than further reduce the deposit rates. These expectations contribute to a closure of long positions in the Japanese currency.

     

    USDJPY, H1

     


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