This past week, the JPY took several traders by surprise. The larger expectation for the JPY remains that the currency should essentially be weak, after all that is the position of the central bank, and as traders we try not to fight Central Banks.
Several of the big banks have been issuing long trade setups, while only a few have caught the downside.
But was this justified at all? Here are some reasons why it made sense to be focusing on short XXX/JPY, and the move was not much of a surprise af…
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