CNY Strengthens
If CNY strengthens to say CNY/JPY 16.50, the trader can sell CNY 10 million against JPY at the average rate of 16.50. The trader's net profit is as follows:
JPY 16.50 - JPY 16.44 = JPY 0.06
JPY 0.06 x CNY 10,000,000 = JPY 600,000
In this trading session, the trader bought low and sold high, thus making a profit.