- The Bank of Japan made no changes to its current policy settings today
- BOJ tweaks growth forecast down, FY '15/16 GDP +1.7% vs +2%
- Pair is currently trading above 61.8% Fibonacci retracement levels at 123.43
- A daily close above 123.67 (Daily cloud base) may drag the pair higher
- Alternatively, reversal from this level may drag the pair again around 121.00 levels
We prefer to stay short on USDJPY, Entry at 123.50, Stop loss 124.36, Target 122.45
