This usually makes me nervous. What I expected to happen with my CAD/JPY FOREX currency pair in a week or so has happened within 2 days. My CAD/JPY FOREX trade from December 2 has already delivered over 250 pips of gain. This is of course not surprising given the strength of the Canadian economy and the corresponding weakness in the Japanese economy.
I am going to keep track of what is happening and what is next for Canada, but for the time being, I am going to take my gains and be happy. My buy price of the CAD/JPY FOREX currency pair trade was 83.063 and I sold this morning at 85.702 giving me a gain of 263.9 pips. That is the highest FOREX gain since I started tracking my trades in this log.
Interestingly, during these 2 days, the USD/CAD FOREX currency pair as actually gained only a few pips. That shows how important it is to not only be sure about which currency will go up but also which one will go down (strength and weakness) against it. While the US economy has been weak, it is not as weak as the Japanese.
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