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USD/JPY Call Signal 28 Oct 2015

Signal details
Entry Price: 
120.50
Close Price: 
121.09
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
4/5 of 3 ratings

The USD/JPY is likely to move higher in the coming hours as a number of factors are in play. First it is the Federal Reserve meeting results which are due in less than an hour, second some crucial comments from Japanese officials overnight that we could see further monetary policy easing by the Bank of Japan on Friday.

The market is starting to price in a weaker Japanese yen and we intent to take full advantage of this. The first stop for the pair will be 121.00, this is why we are looking to buy the USD/JPY around 120.50. The only scenario which could derail this signal is if the Federal Reserve will take down the prospects for a rate hike.

At present we find this to be an unlikely step.

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.