I’ll be looking out for tomorrow’s BoJ Monetary Policy Statement and Outlook Report. Expectation in this scenario is for the BoJ to maintain their current stance, as the economy progresses along as planned. Pay attention to the tone of the statement, as discussions on the timing and scale of policy normalizations take place.
In my opinion, I anticipate the USDJPY to move lower to retest the 110 level.
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Comment
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UsdJpy retesting the 110 level will we see a strong bounce from here?