Funnily I’ve still held on to my 600K USDJPY position and even upped it to 800K, and have turned from a paper loss of 5K to a paper profit of 3K and counting!
This is my super high conviction trade of the month or maybe the year!
I believe the US is not cutting eyes any time soon, while Japan will not be raising rates any time soon either.
So we are likely to see USDJPY yielding about 5% in carry interest. Almost like placing a leveraged fixed deposit.
At today’s rate of 133.90, I think it will run back to 140.
For me, I only need it to go and test the last three months high of 137.90+ and I might get out already.
Hopefully I will have disciplined to hold this position.
Meanwhile I’m earning about $100 a day just holding this trade because of the carry. Shiok.
Time to make back all that I lost in the new year let’s go!!!
Will update. Diamond hands!!!
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