Bank of Japan (BOJ) intervened in the currency markets today and caused a big spike up from 82.88 to 85.78. That is nearly a 300 pips to the upside! Did you manage to catch any of that? Well, for me, I took some from a long GBP/JPY trade I took today. A 50 pips gain and I am happy about that.
Effect of Bank of Japan’s intervention of the Yen in the Charts
About the Author: Ardy Ismail
Ardy is a Professional Forex Trader specializing in the Forex market. He trades using both Technical and Fundamental Analysis and mentors other traders how to trade the Forex market using proprietary trading strategies which he has developed over the years. He started investing in equities in 1999 and trading Forex in 2008. He is the founder and lead currency strategist @ Forexachievers.com