Will Bank of Japan provide some relief to Japanese yen?
Good day everyone.
Japanese yen seems started the consolidation. We have major news on next week economic calendar, Bank of Japan monetary policy and FOMC.
Unless BOJ gives some hint to tighten the monetary policy, Yen is not going to reverse. Until then the biased to Yen is upside.
Scenario for yen next week
- BOJ impact to break the upside or reverse.
- FOMC impact on dollar which will decide the next move on majors.
Until then, its better to stay away from this pair.
Trade with care and proper risk management.
Japanese yen seems started the consolidation. We have major news on next week economic calendar, Bank of Japan monetary policy and FOMC.
Unless BOJ gives some hint to tighten the monetary policy, Yen is not going to reverse. Until then the biased to Yen is upside.
Scenario for yen next week
- BOJ impact to break the upside or reverse.
- FOMC impact on dollar which will decide the next move on majors.
Until then, its better to stay away from this pair.
Trade with care and proper risk management.
