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Japan intervention ruins my day


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I had just placed a sell order on the EJ and was placing my SL when out of nowhere the price rallies through the roof. I closed the trade as quick as I could but came out losing 16% of my account. Apparently Japan had sold off 500billion yen to slowdown their economic recovery. Talk about bad timing.

 

Anyone else get caught by this?

Edited by skid-z
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No, governments do not want to tip their hats to the world.

 

Since the inception of forex, there has never been a clearer statement that BOJ will intervene. U/J was trading near historical lows and I really can't understand that any1 would go long jpy in an area where we had an 800+ pip rebound off the lows back in march

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