The BOJ policy meeting is this week - here's a trade recommendation ahead of it

Author: Eamonn Sheridan | Category: Central Banks

TD Securities is recommending short CAD/JPY ahead of the Bank of Japan monetary policy meeting this week

(the BOJ statement is due Friday after the two-day meeting begins on Thursday)

TD cites:
  • BOJ unlikely to make changes to policy rates, asset purchases
  • CAD economic data is solid but much of this good news is "in the price" already
TD says to sell CAD/JPY at 81.59 - "risk/reward is now skewed in favour of downside potential" 
  • target 78.86
  • stop-loss 83.30
TD Securities is recommending short CAD/JPY ahead of the Bank of Japan monetary policy meeting this week


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