03 March 2020, USD/JPY
USDJPY trading plan:
Bank of Japan Governor Haruhiko Kuroda said the BOJ would take necessary steps to stabilise financial markets. Markets now see a 70-30 chance of some kind of European Central Bank easing next week and a rate cut of 10 basis points in April. Federal Reserve will cut rates aggressively this month. A 50-basis-point Fed rate cut is fully priced in for March. G7 policymakers will hold a conference call around 12:00 GMT, counter the economic risks of the coronavirus that has recently spread at a faster pace in the US and Europe. The discussion will be led by the US Treasury Secretary Steve Mnuchin and the Fed Chair Jerome Powell.
Trading recommendation: range 107.50-108.10.
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