On September 15, 2010 BOJ (Bank of Japan) intervened in the Forex market for the first time in 6 years…
Now, this video is a rough dramatization of happened in the currency market… Watch the lady at 0:47 as she flew into a pole and fainted. I am sure traders around the world were experiencing the EXACT same thing, metaphorically…
Now catch your breath and turn your focus to the Forex market just for a second: Contrary to popular belief, BOJ intervention is not as sudden as some people may think. As a matter of fact, BOJ has been very verbal about intervening for the past two weeks, but most speculators were just so convinced that buying Yen is the answer, they ended up getting caught with hands in the cookie jar.
But if you were part of my Forex News Trading Academy, you’ve probably heard me talking about BOJ intervention in the past few weeks for over 100 times by now, and not only we didn’t lose any money, we actually booked a very nice gain (500+ pips) from this event and brought our account up… This is exactly the type of event that we will never get caught on the wrong side because of our focus on Fundamental analysis.
Below shows our entry at 128.06 and market soared up to 134.00 giving up 600 pips of profit. We are still in this trade, by the way.
Thank you and I’ll post more updates in the future.