We are expecting the BOJ to decrease the interest rates and to affirm new and additional stimulus for the economy, which continue to get worst. Abe said that the stimulus will be around $27 trl, but this has to be confirmed by the bank and to communicate details, how exactly this will happen and how will they stimulate the economy from now on.
We are short the JPY and long the crosses AUD/JPY, NZD/JPY, GBP/JPY and USD/JPY
If investors do get disappointing by the BOJ then the JPY will get stronger and all the crosses will fall, and maybe they will fall very fast, volatile few hours are expected.
For now the economic data are mixed. The markets are expected to open higher, but this maybe changed very fast and they can fall.
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