After reaching the upper medium term band for 15 % width of band as permitted by the monetary policy, the Norwegian central bank and the BOJ undertook market sterilization to slower the strengthening of the NOK in the market. Accordingly, short the current sterilization (short term band) is feasible with the following details:
Short at 14.00 and the current rate 13.80 Stop loss at 14.17 Target T1. 13.55 T2. 13.00 Duration: 2-3 months Risk Management: After visiting the level of 13.50 manage the stop loss to entry rate for risk free trading position management
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Comment
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NOKJPY hammered down to 13.65 to follow the projection