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

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

  1. 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


    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 Check it out he does a good job of explaining these strategies.