In our Daily Trade Watch, we look at some high probability trade setups that we can trade throughout the day. Today, we observe JPY and US Equity Strength as well as a couple of significant news events to consider for the day ahead.
Kuroda and BOJ
Starting with Yen, in the early hours of this morning, we have the BOJ making their monetary policy statement and rate decision. Although we are not expecting any significant change, it will be interesting to see what comes from Kuroda and the BOJ. Effectively, they are lagging behind many other central banks from a policy perspective. Of course, we can see the recent weakness in the JPY but regardless of whether this trend continues or reverses, some interesting trading opportunities may be presented either way.
US Equities
Elsewhere, we have seen some strong bullish moves in the US Equities in yesterday’s trading. If we see continuation above yesterday’s highs, it is likely to give us some more high probability trading opportunities to the upside. Definitely a few markets to watch here.
In addition, continue to watch the EURGBP below the 0.8870 and potentially the USDCAD below yesterday’s low of 1.2979. Both could see further continuation to the downside.
JPY and US Equity Strength – Full Analysis
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