Before last week's Bank of Japan announcement, I believed that the USDJPY would stay in a range of 91 to 96 since I didn't foresee Governor Haruhiko Kuroda going all in on his first meeting. Clearly, I was wrong.
Here's how I described it on Friday's vlog:
It's like getting a date with the cutest, smartest girl, but she says the date won't happen for 3 months. Then when you have the date, you find out that not only is she cute and smart, but also that she is a car mechanic, she likes to do shots and drink beer and she does fantasy football.
In other words, the Bank of Japan exceeded very high expectations.
(Read More: US, Japan Now Global Allies in Money Printing)