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Don't forget to hedge your bets into key BoJ meeting

The USDJPY drop below 142 on the supercharged US treasury rally has squeezed out all the short-term value in the pair just before the BOJ meeting next week.

Short USDJPY has been our highest conviction trade as outlined here. From here, the next catalyst is the BoJ meeting next week and although the odds have risen for a move away from NIRP this is far from certain.

We think it is prudent to consider taking some chips off the table or tightening your stop if you are short USDJPY. #USDJPY #ForexTrading #BOJMeeting #MarketAnalysis #CurrencyTrading


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