Forex: USD/JPY, EUR/JPY Spark Volatility on BoJ Stimulus Threats, Data
Another mild correction in the yen crosses was turned abruptly on its head once again after speculation circled the market that the Bank of Japan (BoJ) was planning on adopting an unlimited stimulus approach. Such an effort would match the efforts of the Federal Reserve and European Central Bank in recent months and offer a competitive means to devalue the currency over the medium-term. That said, the 2 percent inflation target no doubt had underlying expectations of unlimited stimulus; so just how much of this revelation was priced in? The countdown to the BoJ announcement is winding down, so in today's video we discuss the trade opportunities before and after the event as well as other stand out setups that have formed.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.