Check this headline from yet another incompetent currency analyst. As usual, I’m not holding back. This time from Black Bull Markets: Time to watch GBP/JPY for intervention. But this example serves to all currency analysts and most market people.
Correct: The BOJ intervenes only to adjust misaligned imports and exports. The largest markets are the United States and Europe and USD/JPY and EUR/JPY are most vital.
Since 1991, the BOJ never intervened on GBP/JPY. GBP/JPY only began trading on the Japanese Financial Futures market in 2005. Traded contracts are very low.
Japan trade with the UK = 826,574 Exports to UK Imports 516,714. The numbers are extremely low in comparison to Imports and Exports in relation to the United States and Europe. Japan traded more with Mexico than the UK.
The only JPY cross pair the BOJ intervened on was EUR/JPY and last was May 9, 2003. From 1991 to 2023, the BOJ intervened on EUR/JPY 18 times. The BOJ intervened on USD/JPY 361 times from 1991 to 2023.
I know this Market guy. He owns a trading platform and he’s been around for 40+ years. He informs Retail traders remain losers at 80%. Nothing changed over past decades.
All we see is the same old chart garbage, the same old tired commentary and the same old losing trades. The websites promote this stuff. Investing dot com turned down my last 3 weekly commentaries. I send just to bother them.
One would think the currency brokers would wake up from decades of comatose and assist accounts to become profitable. FX dumb street is just as guilty but they don’t want a smart trader or smart commentary otherwise they believe, views would disappear.
But its all a churn service. For every losing trader, 5 more are ready to take their place. No shortage of people to sign up and lose their money.
I’m in preparation today for tomorrow’s post. I don’t see a need to post more than twice a week as my posts go to the FX Dumb street Dungeon as they only promote their own incompetent traders.