Feb 21, 2007

BOJ rates decision - The focus of the market

Market is now focus in betting the rates decision of Bank of Jaoan ( BOJ ) few hours later. Yen - crosses are climbing higher since yesterday as the result of the expectation where Bank of Japan ( BOJ ) will be forced by Japanese government to keep rate stay unchanged again. Personally I have a long position in GBP/JPY since 234.81. I have just adding a long position @ 235.18 .

Meanwhile , Reserve Bank of Australia ( RBA ) Stevens had just addressed a comment around 2 hours ago mentioning that Reserve Bank of Australia ( RBA ) will more likely to raise rate rather than cut raise in the near future. This comment had boosting Aussie for further north, but resistance level at 0.7880-85 is able to hold now. My open position within this pair is a short @ 0.7852 .

( GBP/JPY now @ 235.17 , AUD/USD now @ 0.7875 )

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