And look where the AUD/JPY has gone since that "idea!" That was not sound FA; I laughed when I read it, and I'm just a novice. I used this example because the AUD/JPY is all I'm trading right now. When I googled AUD/JPY looking for some in-depth fundamental analysis that is how I found that blog, quickly discounted it and went on to find better FA. One I use is DailyFX. They have good articles, calenders and tables summarizing key fundamental information needed when trading.
Don't get me wrong, I love this site. I am a proud alum from the School of Pipsology and recommend it to others who might want to try FX. However, I have done my graduate work outside of this site.
Find a few good daily FA sources that fit your liking (there are some good recommendations in this thread for sources outside this site) and learn the key fundamentals of each economy you are trading and how those fundamentals correlate to the pair you are trading. Again using the AUD/JPY as an example, I have learned that it's not just gold and oil that drive this pair but clearly other important factors too - there are sound long and short correlating fundamentals with this pair. Here is an example of what I found for the AUD/JPY:
Publications from Umeň University: 1047 - A comparison of the prediction performances by the linear models and the ARIMA model
Did I understand all that crap about regressors, etc? Heck no!! (kudos to you smart guys that understand that stuff) But, I gleaned some valuable info about the the Royal Boomer and the Yen that has helped me greatly in successfully trading this pair. I'm a big TA guy; I love TA - it fascinates me. However, a good dose of FA with your TA will make you a more disciplined trader which was something I sorely lacked before I got serious about trading, and it will allow you to be more confident with your TA too.
Well, that's my 2 pips worth anyhow.