Apr 25th 2016: Yen Recovering after BOJ Turns Negative

• This morning, the yen pairs generally have a negative bias as the yen recovers some poise after large-scale losses on Friday. Reports that the BOJ was moving towards negative lending rates sent the yen pairs into orbit on Friday, with a corresponding boost for Asian stocks.

• The US dollar is also on the back foot this morning after moderate gains on Friday.

• The GBP/JPY continues to outperform, with relatively small losses this morning and continued losses on the EUR/GBP.

Coming up today: 

• Coming up today we have German Ifo business climate at 09.00.
• Following this, we have US new home sales at 15.00.

Trade Idea: 

• The GBP/JPY continues to outperform despite this morning’s small dip.

• A good way to play this is a HIGHER trade predicting that the GBP/JPY will close above 162.00 in 14 days for a potential trade of 143%. 

Powered by: Binary.com