- The Bank of Japan made no changes to its current policy settings today
- BOJ tweaks growth forecast down, FY ’15/16 GDP +1.7% vs +2%
- Pair is currently trading above 61.8% Fibonacci retracement levels at 123.43
- A daily close above 123.67 (Daily cloud base) may drag the pair higher
- Alternatively, reversal from this level may drag the pair again around 121.00 levels
We prefer to stay short on USDJPY, Entry at 123.50, Stop loss 124.36, Target 122.45
The material has been provided by InstaForex Company – www.instaforex.com