We are bullish on the USDJPY heading into FOMC and BOJ.

With all the talk about the BOJ staying their course and not using any dovish tools, they may use to lower the YEN  am a bit skeptical. Why would the BOJ not enact some measures, or at least a small amount of easing, to sustain the possible BREXIT damage to come. The BOJ has a history of saying one thing and doing another to shock the crowd. If you study the history of the BOJ you will see one thing is true. When they threaten intervention they rarely intervene, when they do not threaten, the intervention in the YEN then seems to happen. Why is this? Why do we always hear the same nonsense from the BOJ that they are "watching currency markets, for one sided moves"? Why are we often mislead into thinking the intervention will come, when in reality it may...but not at that time. Its very simple! The BOJ makes money just like any trader, they just have lots of talented traders working with them as well as a HUGE amount of capital.

I am long for a series of reasons I pointed out to our members, in this article lets just say it is the chart mixed with some fundamentals, that makes me think we may just head back up to 110.00 very soon.

Here is an article where I explain some reasons why I am bullish on the USDJPY going into the FOMC and the BOJ