JPY has plummeted today after the Bank of Japan announced that it included negative interest rates in its policy arsenal. Until as lately as last Thursday the BoJ governor Kuroda emphasised that the bank not consider negative rates. But now that the ECB is promising more QE in March governor Kuroda is taking a leaf of out of Swiss National Bank’s book and introduces negative rates to prevent safe haven flows into Japanese currency.
This created a huge up move in USDJPY and EURJPY among the others. Such a volatility means that traders who know what they are doing will make vast amounts of money with a higher certainty and relatively fast. When market has momentum trading gets easier, but you have to know what to look for. In next Tuesday’s Live Analysis Webinar I will teach you techniques that will help you to identify these opportunities and make money instead of sitting in the sidelines while others (those that are in the know) enjoy the action!
The above chart shows a beautiful up move that everyone would love to catch. Our Senior Currency Strategist John Knobel identified a bullish setup a few days ago and helped our traders to be long USDJPY before Kuroda annouced the surprise news. However, if you missed John’s trade idea, you surely want to have tools for engaging the market after the news comes out!
Chief Market Analyst
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About Janne Muta, HotForex’s Chief Market Analyst
Janne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.
Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.
“My mission is to help you to become a confident and successful trader”
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