USD/JPY jumped to higher levels but then consolidated and slipped in range. What’s next? The meeting of the Bank of Japan awaits markets. Here is their view, courtesy of eFXdata: Nomura Research discusses USD/JPY outlook and trading strategies around next week’s BoJ policy meeting. Nomura considers three scenarios into the meeting and examines their implications for JPY. 1) A formal change in monetary policy (0-5% possibility) “In this tail risk scenario, we would not recommend dip buying soon thereafter, and even shifting to short USD/JPY positions could be attractive,” Nomura argues. 2) Adjustments/tweaks to increase JGB market volatility (10-15% possibility) “In this scenario, after the dust settles, we would expect JPY weakness to resume. Thus, dip buying of USD/JPY would be attractive,” Nomura adds. 3) No meaningful adjustment, just more dovish (80-90% possibility) “Under this scenario, we would expect USD/JPY appreciation to accelerate further, and would maintain our long USD/JPY preference,” Nomura argues. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD Technical Analysis: further rangebound likely near term. Extra upside needs to regain 1.1853. FX Street 5 years USD/JPY jumped to higher levels but then consolidated and slipped in range. What's next? The meeting of the Bank of Japan awaits markets. Here is their view, courtesy of eFXdata: Nomura Research discusses USD/JPY outlook and trading strategies around next week's BoJ policy meeting. Nomura considers three scenarios into the meeting and examines their implications for JPY. 1) A formal change in monetary policy (0-5% possibility) "In this tail risk scenario, we would not recommend dip buying soon thereafter, and even shifting to short USD/JPY positions could be attractive," Nomura argues. 2) Adjustments/tweaks to increase JGB market volatility (10-15% possibility)… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
