28/29th June BOJ Meeting Expectations by 27 analysts polled by Reuters:
1. 23/27 (85%) expect easing from the BOJ.
- The Median Analyst expect a 10bps cut to the headline interest rate to -0.2% and a Yen10TRN Extenstion to the BOJ's monetary base target to Yen90TRN a month (JGB and ETF Purchases).
- One analyst expects easing in September, two in October and...
Yen$ Technical analysis - Bullish but fundamentally driven this week:
Key level close:
1. On the daily and weekly we closed above the 2nd strongest pivot point of recent times at 1.055 - this is very supportive as historically this is the strongest level (next to 100/101).
MA:
1. We trade above the 4wk ma and the 3m MA is acting as strong support (black...
I posted earlier with my 107 USDJPY breakout trade (see attached post) - one of the reasons I said to long USDJPY on the 107 break-out was due to JPY Govt stimulus speculation.
In the last few hours we have seen fresh speculation of the JPY stimulus, with JPY20trn now being discussed/ proposed to be on the table - this renewed rhetoric is nothing but positive for...
The Federal Reserve's regulatory point man said work to address the lessons of the 2008 financial crisis won't be complete without better regulation of short-term funding both inside and outside the banking system.
St Louis Fed President Jim Bullard may be the Fed's new super dove, but he's no pessimist, he says. Bullard is the lone Fed official forecasting just...
Short NZDUSD is in my top 2 FX Trades for several reasons:
1. NZD is considered the riskiest G10 currency cross, so NZD trades weaker in risk-off markets, or when equities/ SPX trade lower (you can see the high correlation with SPX at the bottom of the graph).
- With Brexit occurring last week, global risk has increased, this is especially the case for NZD due...
BUY USDJPY @106.5 or @107.0 - SL @105 - TP @109-11 based on:
$YEN's historical most important support level - The 105.5 Key level will more than likely hold as it has many times before
- At 105.5 there are 3 significant UNSUCCESSFUL tests of the level over the last 3 years thus it is a great entry point. Also another plus is if you look at the monthly chart...
