Just hours after our bearish trade setup was triggered, U.S. President Trump announced a 90-day pause on higher reciprocal tariffs for most trade partners, sparking a massive broad market risk-on move, including in NZD/JPY. This provided a valuable (and painful) lesson in market dynamics and risk management, as the position quickly hit its max stop after an unexpected policy announcement. Let's examine what happened and what we can learn from this experience.