JPY Moves with COVID News and Global Turmoil

Long USDJPY on MT4 and a private broker, this is something I see almost as a high yield checkings, short term treasury or a high yield lending product rather than a trade. I will admit, I made a killing on a long in April, then I ate into my profits doubling down in a greedy fashion. Thankfully, I withdrew a portion of my profits to the Misses so she could buy the groceries.

The main fundamental news I am trading on for this pair is the FED indicating a continued trend in raising rates, however, I admit that I made a mistake at the last FED meeting, we all knew they wanted to raise it, I thought the USD would smash the 135 handle off of a 50 bip rise but I actually got stopped out since the markets already priced that in. I was also trying to trade interest rate and yield differentials, but this is not pure in form as one would think, since as always we must look at capital controls.

As of now, I actually try to trade dominant pairs long mostly, I do not know why but I don't like shorting the USD, even though it has eaten into potential upside for me, I am working on correcting the psychological block.

Best and stay safe,

JML