I was reading the news today and I noticed that JPY GDP Annualized actual is 1.7% vs forecast 0.3%.
If I understand anything about GDP, this is a better than expected figure. Now, is this likely to affect the JPY and in which way? I thought if the economy does better, the JPY will strenghten. So I went short on USDJPY (assuming there are no significant changes in USD) a few hours and so far I am down about 50 pip. Does it mean my theory is wrong, or is the market behaving oddly?