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Saturday, 30 January 2016

USDJPY Technical Analysis For Your Learning: 30 January 2016, Saturday, 2.22am Singapore Time

USDJPY Technical Analysis For Your Learning: 
30 January 2016, Saturday, 2.22am Singapore Time

Attached above is the daily chart for USDPY as well as my longs entry, stops placed and exit point (profits taking point).
After shorting the Japanese Yen by buying USDJPY, I am taking all my USDJPY longs profits before the forex market closes in 3-4 hours' time.

Bank of Japan's news release of negative interest rates shocked markets, but actually are markets really that shocked? Of course not. 10 days ago, i.e. 8 trading days ago, I already said, based on technicals, USDJPY was going to rebound (refer to attached link below). I even charted the path of the rebound, and bought before the news. USDJPY is now going where I said it is going, and I am taking profits and selling USDJPY on news.

This is the technique of buy-before-the-news (buy on breakdown, buy on fear) and sell-on-news when sentiment is good (sell on rally, sell on greed).

¥2.6 million Yen profits in 10 days, or S$30k SGD in 10 days, translating to +S$3k SGD per day. There is no need to even go in-out-in-out-in-out the market like a confusing busy idiot. Go in, sleep, alarm clock sounds, wake up, take profits, go shopping. Simple and sweet.

:: Related ::
Previous USDJPY Analysis (made 10 days ago) as below:

Above are the profits in (¥) Japanese Yen (JPY).
Below are the profits converted into (SD) Singapore Dollar (SGD).

Profits in this trade:
+S$ 30,581 SGD

S$ 194,977 + S$ 30,581
= + S$ 225,558 SGD

Trading Journal:

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