While most North American traders attention was focused on hurricane Sandy and its effect on New York City the BOJ quietly expanded it's asset purchase program. The BOJ pledged to continue the program until deflation dissipates. The monetary value pledged was at the lower end of expectation and caused a bit of volatility. The pair looks as though it could be forming a rough head and shoulders pattern. If the pair remains below 79.65 a move lower towards support at 78.85 could be in the cards.
Keane Plan....Favoring a move lower towards 78.85 if the pair remains below 79.65
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