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The Bank of Japan is "on the tightest of tightropes above the pit of alligators"
As the dust settles from the Bank of Japan USD/JPY is rising above 141.00 and I think that's the right trade. A week ago, I warned not to chase USD/JPY as it rose to 141.73 and we got a retracement all the way to 138.06 on a series of leaks and a messy trade. It certainly wasn't easy but at the time I wrote:I think the trade for the BOJ is to wait and see what they deliver and if it's yet-another kicking of the can on YCC, then buy USD/JPY with both hands and dare the MoF to defend 145.00.We d...
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Posted: Jul 28 2023, 19:08
Author Name: forexlive
Views: 080822