USD/JPY has been ranging across within the support level of 107.300 and the key level of 108.0.&nbsp;
 
Last Friday, Japan Economy Minister Nishimura announced that Japan’s new economic stimulus package is estimated to boost real GDP by about 4.4%.
 
The Bank of Japan (BoJ) brought forward their monetary policy meeting to earlier today. The BoJ held interest rate unchanged at -0.10%. Also, BoJ will be purchasing a necessary amount of Japanese Government Bonds with no upper limit and more than double the amount of corporate bonds and commercial paper that it can purchase.
 
The pair is currently testing the support level of 107.300 and the next resistance level is at 109.000. Look for selling opportunities as it's breaking the 107.3 support level as of writing this.&nbsp;

USD/JPY Bullish Trade Idea

Dec 01 2020