Day 310: BOJ and FOMC awaits

$0 Total: $1,618.64

The RBA has announced that they will not raise rates this year and will initiate policy if the AUD continues to rise. My AUD/JPY short trades worked out great due to this news; waking up to profits is sure a great feeling. We also had some data today but that does not explain today’s funky price action. There were tremendous dollar swings that faked a lot of people out. Perhaps it’s tomorrow’s BOJ and FOMC minutes meeting that is causing huge investors to take/cover positions. Tomorrow should be good…

Although I had a great start in my AUD/JPY short, today’s funky price action got to the best of me. Once the dollar picked up some momentum and continued to gain strength, I went to short EUR/USD and long USD/CHF heavily; the two pairs I’ve been waiting since last week to make a move. Unfortunately the upward move in the dollar was a fake out and my profits got damaged. I’m seeking revenge and will hold onto some long dollar and short JPY pairs overnight. I’m thinking traders in London will anticipate a BOJ intervention and the FOMC will benefit the dollar… it’s going to be a stressful London session.

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