The yen was screaming towards the next historical resistance at 147, and the Bank of Japan stepped in with a sudden red candle to support the yen.
They say they will continue to do so as it approaches 146 again.
We were not operating in a "free market" before, and now we are even farther removed from one.
The big banks in Japan, the US, and Europe are spending this weekend licking their chops, as there is about to be an enormous wealth transfer from the government and citizens of Japan to them.
The Bank of Japan has told everyone they are going to be dumping this pair any time it gets near 146. Imagine if you had that kind of insider information about a stock. It's easy money.
But this is insider information everyone knows, so the spreads will be thin, and the biggest players with the most capital to deploy will be the biggest winners.
The smart play is to set buy orders anywhere under 143, and then try to front-run the BOJ dump and pick up the small spread until the situation changes.
You can also short-sell at 145.xx and try to pick up a small spread, but eventually the BOJ is going to choose a slightly higher level to dump at, or cease their intervention because it gets too costly.
At that point, you definitely want to be long yen, not short.
This is what the big banks and hedge funds around the world are spending the weekend planning out. That's the wave you want to be surfing right now.
Ignore these moronic posts calling for a USDJPY dump. Sheer idiocy, total lack of understanding. Any dump you are lucky enough to buy, do it.
This will range between 140-146 until the BOJ runs out of the will to fight the uptrend. Then it's going to continue its natural path up even faster to make up for lost time.
THE ONE EXCEPTION - An unexpected, sudden FED pivot would
They say they will continue to do so as it approaches 146 again.
We were not operating in a "free market" before, and now we are even farther removed from one.
The big banks in Japan, the US, and Europe are spending this weekend licking their chops, as there is about to be an enormous wealth transfer from the government and citizens of Japan to them.
The Bank of Japan has told everyone they are going to be dumping this pair any time it gets near 146. Imagine if you had that kind of insider information about a stock. It's easy money.
But this is insider information everyone knows, so the spreads will be thin, and the biggest players with the most capital to deploy will be the biggest winners.
The smart play is to set buy orders anywhere under 143, and then try to front-run the BOJ dump and pick up the small spread until the situation changes.
You can also short-sell at 145.xx and try to pick up a small spread, but eventually the BOJ is going to choose a slightly higher level to dump at, or cease their intervention because it gets too costly.
At that point, you definitely want to be long yen, not short.
This is what the big banks and hedge funds around the world are spending the weekend planning out. That's the wave you want to be surfing right now.
Ignore these moronic posts calling for a USDJPY dump. Sheer idiocy, total lack of understanding. Any dump you are lucky enough to buy, do it.
This will range between 140-146 until the BOJ runs out of the will to fight the uptrend. Then it's going to continue its natural path up even faster to make up for lost time.
THE ONE EXCEPTION - An unexpected, sudden FED pivot would