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This morning, the BOJ (Bank of Japan) surprised markets by adopting negative interest rates.
BUT WAS IT REALLY A SURPRISE?
Well, to be honest, the news indeed was a surprise, but the direction that the Yen was going to take was no that surprising. This was because the price was leading the news, and we had already positioned ourselves beforehand for this move by sticking to our rules and applying the correct setups for such a market.
Hence it was no surprise when the new broke that I made S$4,866 (US$3410) profits from this move alone, from my long positions in USD/JPY, GBP/JPY and EUR/JPY, which gave me a net short exposure to the Yen.
In the Synapse Network, most of us took the same positions, but there were also some independent traders who used different pairs to get short exposure to the Yen. Either way, the results will not differ much.
HERE ARE THE REAL TRADES & REAL RESULTS:
What will the next BIG move be? Stay tuned! 😀
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Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.