Yesterday, I sold EURO and the Swiss Franc against YEN. This morning, I sold Australian Dollar against YEN. Medias report about worries of YEN rising, which implies me the coming of Selling Climax.
Generally speaking, the foreign exchange rate shows the strength of the country. Then, why is the YEN, the currency of Japan whose debt reaches 900 trillion yen in 2010, so strong?
Nobody knows exactly about the truth. But if you do FX, the chart shows the exact signs of “buy YEN” in most of major currencies, doesn’t it?
If the YEN meets breakthrough at 84 yen, it will go 82 yen. If I were a Hedge Fund, I would buy YEN in a short term to realize the STOP LOSS HUNTING.
I want to increase my position about YEN against Euro, especially when it goes over the middle of 107 yen.
One of my rules says “Don’t enter the market if you don’t know what’s going on.”
Now I can make my own story and want to enter the market aggressively.