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$3k SGD per day. There is no need to even go in-out-in-out-in-out the market like a confusing busy idiot. Go in, sleep, alarm clock sounds, wake up, take profits, go shopping. Simple and sweet.
Previous USDJPY Analysis (made 10 days ago) as below:
Below are the profits converted into (SD) Singapore Dollar (SGD).
= + S$ 225,558 SGD