400 Pips to collect in EUR/JPY, watch this space

An interesting upward movement from EUR/JPY and basically all major pairs against the JPY probably due to the result of this morning BOJ monetary minutes meeting.

For a quick article on this morning's meeting ==> https://www.ft.com/content/1868d0a5-d05e-3276-b002-aaa79847c37b

A cut in inflation was forecasted in the meeting, with inflation to be 1.1% instead of the previously forecasted 1.4%. However, i would like to urge all readers to go and read up that this slash in inflation has already been warned by the governor of Bank of Japan during the conference held in Europe a few weeks back which consists of all major central banks.

Hence this sudden spike in all major currency pair against JPY is going to be TEMPORARY probably due to market sentiment movement. However, with the resistance point going to be reached soon at 130.78, if it fails to hold it at that level, it is almost with certainty that it will crash down to the very first major resistance level of 128.50 and subsequently 126.50.

Watch out for this trade because as mentioned in the title, a good 400 pips is due for collection!