It`s one thing to call the direction of a market, it`s another to get the timing right.
Darn near every FX analyst out there has called USDJPY 100 in the past two months but a few of them called it today.
First is Taisuke Tanaka, chief strategist at Deutshe Bank woe was out wit ha note yesterday saying the yen was poised to break 100. He said the break should make even higher levels possible with 100 as support. He also said Japanese investors would see 100 as a reason to buy.
Second was James Chen at CitiIndex who talked about the yen breaking out earlier today and targeting 103 on a break of 100.
Finally, I`ve got to pump Ryan Littlestone`s tires once again. Logged back into ForexLive today to warn about USDJPY breaking out and wrote me an email saying `This SOB is going to blow`
Lots of people can call the direction, some can get the timing right, very few can call it in real time. I don`t need to congratulate Ryan because he made money on the trade but thanks to him, I`m sure some of you did as well.