USD/JPY drop at 9:00 GMT, 7th sept.

Discussion in 'Forex Trading' started by Boberson, Sep 7, 2006.

  1. Boberson

    Boberson

    Well, I'm admittedly very new to forex, and trading in general, but its pretty rare that I see a huge spike like this without understanding why it happened..

    The price hit 117.00~ and dropped by 100~ pips, why did this happen?

    Beau L
     
  2. jtnet

    jtnet

    it happened so u could make some bernanks (cash money)
     
  3. Common FX strategies include round number reversals and the Asian range breakout. This mean that once a pair trades outside of its Asian range all the traders in London pile on in that direction.

    Phil Newton has a website http://www.trading-strategies.info. Check it out he does a good job of explaining these strategies.