Open trading account 
Even thought my long bias on USD/JPY was proven correct I still lost a little bit on this position, but not that much. Taking in consideration that I was long this pair since Tuesday but the market was showing any willingness to move I had to play with my positions very defensively as with this risk events you can never be sure of where the market will ultimately go.
So, just ahead of the Fed announcing the interest rate decision I've moved my SL level as I wasn't prepared to let the market go to much against me. Sure enough the market went in a stop run below key psychological number 120.00 triggering all those stops, which ultimately are needed to provide liquidity; and second later it jumped higher going in the direction of dollar strength like all of the other currency pairs.
What is interesting is that all of the other US dollar pairs have moved one way street and USD/JPY was the only one who made the whipsaw.
It seems they wanted desperately those stops below 120.00 as the market was heavily positioned on the long side so it had to clear out some of the weak hands, including me.
Best Regards,
Daytrader21
So, just ahead of the Fed announcing the interest rate decision I've moved my SL level as I wasn't prepared to let the market go to much against me. Sure enough the market went in a stop run below key psychological number 120.00 triggering all those stops, which ultimately are needed to provide liquidity; and second later it jumped higher going in the direction of dollar strength like all of the other currency pairs.
What is interesting is that all of the other US dollar pairs have moved one way street and USD/JPY was the only one who made the whipsaw.
It seems they wanted desperately those stops below 120.00 as the market was heavily positioned on the long side so it had to clear out some of the weak hands, including me.Best Regards,
Daytrader21
