Yen Powers On

Morning Report: 06.30 London

• This morning, the US dollar is backing off from the highs made yesterday, mainly due to a powerful push from the Japanese yen.
            

• The yen is bidding higher after the Bank of Japan opted to extend the range and maturity of the assets it purchases. The USD/JPY reversed dramatically, with other dollar pairs following suit.

• The remaining dollar pairs are mixed to positive.

• Meanwhile oil prices continue to suffer, with fresh weekly closing lows on the cards.

Coming up today:

• Coming up today we have Canadian Core CPI, released alongside wholesale sales.

Trade Idea:

• With the dollar potentially unleashed and the yen on fire, the EUR/JPY is under pressure.
                      

Further downside is on the cards and a good way to play this is a LOWER trade predicting that the EUR/JPY will close below 132.00 in 35 days for a potential return of 125%.                            

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