I've had 2 out of 3 winners on a Yen reversal. Yesterday the Yen gained around 2 percent across all pairs after a series of comments by BOJ officials. Most importantly, the governor of the Bank Kuroda said that the Yen shouldn't decline much from its current value. This was followed by comments from 2 other officials on the exchange rate.

I jumped in on the long side as I thought the selling was overdone. The fact remains that the BOJ can only pick one thing, QE or a stronger Yen, not both. And if it has to choose, it will go with more QE. I'm not sure why traders ''bought'' the Bank of Japan comments so readily but I assume it was mostly a technical correction after the large losses for the Yen in the past few weeks.

I longed the USD/JPY, EUR/JPY and the GBP/JPY. Two of these trades hit my takeprofit yesterday with GBP/JPY at +68 and the EUR/JPY at +28 pips. I closed the long USD/JPY at -18 pips today, which proved to be a mistake as the Yen pairs gained some more lost ground today.

I'm now up to the number 7 position, so subscribe to my signals HERE. I'm also in the top 10 signal providers in the past 12 months. Cmon, click the big button that says ''Subscribe to Signals'' HERE.
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