Clearly the market got a bit upset by the lack of hints from the BoJ on easing in the coming months and we've seen strong short covering in the JPY
Chris Weston
Pepperstone
Clearly the market got a bit upset by the lack of hints from the BoJ on easing in the coming months and we've seen strong short covering in the JPY. With the flush out of shorts from those positioned for a dovish narrative from Mr Kuroda, it looks as though we have come to an inflection point. Given tonight's FOMC minutes are likely to be a hawkish affair (and thus USD positive) the pair could be a good long from here, especially after the strong support seen on the trend drawn from the February 4 low at 101.50.
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Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market price action and advise on actionable trade ideas and investments in multiple asset classes.
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Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
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