This was my previous post, however I will reiterate what I have to say:
Majority (more than 90%) of international market participants are long USD-JPY.
They are all using logic to be bullish of this forex pair.
Longing USDJPY gives you a very COMFORTABLE FEELING because by logic this judgement is a sure winner.
I had been SHORTING the USD-JPY giving a target of ￥83.54
Shorting USDJPY gives you a very DISTASTEFUL FEELING because by logic this judgement is a sure loser. This is where I had come in previously. I am at the minority side.
It is very lonely a position but I am the minor 5% sitting on big profits right now.
It is very lonely a position but I am the minor 5% sitting on big profits right now.
As per warned, the herd are all on my opposite side longing USD-JPY (ie shorting Yen) on stale and outdated facts, which is essentially how Foolish Money behaves.
In summary, this is a saying by Donovan Norfolk Ang:
"Smart Money look forward;
Foolish Money look at the tempting present and the rear mirror."
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