Well, I'm admittedly very new to forex, and trading in general, but its pretty rare that I see a huge spike like this without understanding why it happened..
The price hit 117.00~ and dropped by 100~ pips, why did this happen?
Common FX strategies include round number reversals and the Asian range breakout. This mean that once a pair trades outside of its Asian range all the traders in London pile on in that direction.
