USD/JPY report release, I guess it happens...

I was just watching for the release of the Tankan Large Manufacturers Index tonight at 7:50 ET. Well, the results were originally stated as 21 (below expectations) on this sites calendar so I placed a sell on USD/JPY. Problem is the actual was 24! and was corrected a few minutes later on the site. I guess it happens and I am certainly not perfect and make plenty of mistakes! I was watching another source which conflicted with the intial report of 21 so I should have waited and tried to figure out what was up. I like this sites economic calendar as it cleary states previous results, market expectations, and then acutuals. Other sources are not always clear about what is important so taking the headline as is can be a big mistake.

I don't usually trade the releases but with the yen it is so darn easy, usually.

Six

Hello Six,

You have just experienced what NEWS trading does most of the time when we place trades prior to the announcement. I have done this many times & have learned to wait for the news announcement & then some -- 4 to 6 mins. You are probably aware that news can change a pair's trend.

Just my 2 pips of experience.

Happy Trading,
Ronny C.

News trading is about the divergence in the number, you guys obviously know that already. However, there are head fakes all the time, and straddling has never worked out for me, personally, because the spreads widen and sometimes both trades get triggered. I just use a fast news service and look for the divergence, if there is none I don't trade. I'm still trying to figure out what releases have high divergence all the time...

Also, I don't put on trades before the announcement. I set them up in either direction, wait for the number, then click. Think fast, brothers, the spike starts in seconds...

Hello there, I took the same trade. Was positive for while and then the Yen weakened again?! I believe there is going to be a delayed reaction to this news. The Tankan is pointing the economy in the right direction. Yen will strengthen eventually, I hope I'll hold this one till the end of the week. Good luck to you all,

Finally YEN gained... ISM pretty much was the trigger. Made a sweet 33% return on my risked margin. We have a lot of rate decisions from AUD, EUR and GBP this week. We could see a furter decline in USD throughout the week. I think AUD is seriously oversold when compared to levels from the last RBA meeting where data was strong and they still held rates because they had only raised them a month earlier and wanted to wait and see - 0.7700 back then Now 0.7482.

Going long AUD, data still at top of inflation range and housing needs to be cooled down. Wish me luck

Personally, I prefer to go long on USDJPY and GBPJPY for the swaps. They add to profit and are safety net should I need to hold on the pair longer to make em work. Last time I did that, the swaps kept me afloat even with more than 100+ pips of reversal some 2 weeks ago.

I'd wait for USDJPY to drop to 116 and GBPJPY to 220 once again...