Sell on a level breakthrough of 120.25 with 119.75 target. Stop loss = 120.75.
Reason for the trading strategy
The Bank of Japan refrained from any additional stimulus measures maintaining the amount of asset purchases at the level of 80 trillion yen a year. The news has supported the yen significantly. According to the regulator's forecasts, the inflation rate of 2% will not be achieved in the first, but in the second half of the 2016 fiscal year. According to our estimates, inflationary pressures in Japan will start growing steadily in Q1 2016. Future growth of inflationary pressures in the country will not require the asset purchases program to be expanded in 2016.
Reason for the trading strategy
The Bank of Japan refrained from any additional stimulus measures maintaining the amount of asset purchases at the level of 80 trillion yen a year. The news has supported the yen significantly. According to the regulator's forecasts, the inflation rate of 2% will not be achieved in the first, but in the second half of the 2016 fiscal year. According to our estimates, inflationary pressures in Japan will start growing steadily in Q1 2016. Future growth of inflationary pressures in the country will not require the asset purchases program to be expanded in 2016.
USDJPY: under pressure against the background of a strengthening yen
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