Day 424: Fasten your seatbelts

Profit: -$15.44 Total: $1,054.02

The BoJ is scheduled to speak anytime soon in the Asia session and by the looks of USD/JPY depreciating, the market seems to doubt the bank’s power to intervene. For a while, the BoJ has been criticized to make broken promises and their words seems like all bark with no action. USD/JPY is sitting around 101.5, when will the BoJ say enough is enough and step in? Also scheduled for NY, the FOMC is scheduled to speak  which will have a huge affect in the dollar depending on their tone and guidance. The market will be at a very sensitive and fragile state until everything is said and done.

Took some losses by shorting the dollar last night. The EUR/USD and GBP/USD fell during London session but found support during NY. NY was difficult to trade, since the markets are always calm before the storm. I’m not sure if I’ll be trading a lot tomorrow depending on how sensitive the market is after the FOMC and BoJ are done speaking. Until then, all eyes on the banks.

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