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USD/JPY Signal - Bank of Japan in September - Aug 22 2016

Signal details
Entry Price: 
100.80
Close Price: 
No Trade
Direction: 
High
Expiry Time: 
20:00 GMT
How we trade
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Today the USD/JPY pair is still maintaining its price above 100.00 zone. At the moment it is wandering between the 100.60 to 100.90 levels. A statement made by the Bank of Japan's governor Haruhiko Kuroda this morning came out with the news that the central bank is going to expand on its easy monetary policy, which is likely to weigh on the Japanese yen.

Having in mind the levels between which the USD/JPY is trading and the fundamental picture, we are looking towards some key levels to provide impetus for our trade. The 100.80 level has already been seen as a key level once during the previous week. All of the factors in play may lead to the pair closing above the target price which could mean that today we would be buying daily calls at the price of 100.80 for the 20:00 GMT expiration.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.