The Bank of Japan unexpectedly eased monetary policy on Friday, announcing the first new stimulus measures in a year and a half. This is causing the yen to decline sharply in the overnight session, putting the Japanese currency close to our first intermediate downside objective of .009000.
We don’t know what the morning will bring, but let’s try to use this decline as an opportunity to take some cash and ALL of our initial risk “off the table.” If you own more than one of the March put options we suggested purchasing in Alert #32, consider editing half now, taking your risk off the table. Hold the other half for a move down to our second objective of .008500,
Check with your personal RMB Group broker for the latest on the yen. If you don’t have an RMB Group trading account and would like to know more about this or any other “Big Move” strategy, call 800-345-7026 toll free or 312-373-4970 direct. You can also email firstname.lastname@example.org.