Pippy5000
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To anyone who is having hard times through the recession and has turned to Forex in order to try to supplement your income, but doesn't really know what they're doing, I have a tip for you..
Japan is an exporting nation and as a result their government cannot tolerate the Japanese Yen being too strong. Would you buy a 40,000 GBP Toyota truck?? No, and neither will anyone else. It is for this reason that the government of Japan lies in wait with billions upon billions of JPY ready to purchase USD in the event that the JPY becomes too strong due to foreigners and Japanese citizens flocking to the JPY as a safe haven currency. The rumor is that at 85.00 the government will directly intervene to purchase dollars in order to push the pair USD/JPY up. Whether or not they actually will doesn't really matter because half of humanity has huge buy orders in at 85 due to the widely accepted rumor. Basically it's going to be very difficult to punch through 85 on the first try.. Therefore, at all times I have a giant order to buy USD/JPY at 86.1 with a stop loss at 84.7..
If you are losing your money left and right this is a high percentage move. There are no guarantees in Forex but this is as close as your likely to get to a sure thing. Hope this helps!
Japan is an exporting nation and as a result their government cannot tolerate the Japanese Yen being too strong. Would you buy a 40,000 GBP Toyota truck?? No, and neither will anyone else. It is for this reason that the government of Japan lies in wait with billions upon billions of JPY ready to purchase USD in the event that the JPY becomes too strong due to foreigners and Japanese citizens flocking to the JPY as a safe haven currency. The rumor is that at 85.00 the government will directly intervene to purchase dollars in order to push the pair USD/JPY up. Whether or not they actually will doesn't really matter because half of humanity has huge buy orders in at 85 due to the widely accepted rumor. Basically it's going to be very difficult to punch through 85 on the first try.. Therefore, at all times I have a giant order to buy USD/JPY at 86.1 with a stop loss at 84.7..
If you are losing your money left and right this is a high percentage move. There are no guarantees in Forex but this is as close as your likely to get to a sure thing. Hope this helps!
