This week, we have two important central banks: BOJ and FED.
We knew that BOJ officially used negative interest rate last meeting to boost economy and spending, so I don't expect any measure in this BOJ meeting. It's likely is a non-event.
While I choose neutral stance and no rate hike decision in FED Meeting. It means negative view for Dollar.
Combine two events, I see a good chance to SELL USDJPY next week.
I see there is no good reason for stock to be higher. No fuel and catalyst to lift up Stock market; hence, I see no need to buy USDJPY.
Look at on the chart,USDJPY is holding 113.50 handle as a key resistance level; while 111 is a the support USDJPY chose.
I think USDJPY will down to near 111 floor this week.
We knew that BOJ officially used negative interest rate last meeting to boost economy and spending, so I don't expect any measure in this BOJ meeting. It's likely is a non-event.
While I choose neutral stance and no rate hike decision in FED Meeting. It means negative view for Dollar.
Combine two events, I see a good chance to SELL USDJPY next week.
I see there is no good reason for stock to be higher. No fuel and catalyst to lift up Stock market; hence, I see no need to buy USDJPY.
Look at on the chart,USDJPY is holding 113.50 handle as a key resistance level; while 111 is a the support USDJPY chose.
I think USDJPY will down to near 111 floor this week.
