February 7, 2019 08:25: Euro-yen and Euro-dollar strategy [From Mr. Tomo Emori's newsletter]
From the investment free email “Jemori Tetsu’s Real Trading Strategy” by Tetsu Emori provided by GogoJungle, here is a small excerpt from this morning’s distribution. This time, please take a look at the trading strategies for the euro-yen and euro-dollar.
We will unwind the long in the euro-yen and take a new short position. The long-term trend is 128.45 yen. The 2019 bear scenario range is 113.03–127.23 yen, with year-end at 114.75 yen. The February bear scenario range is 119.78–125.33 yen.
We will maintain the short in the euro-dollar. The long-term trend is 1.1620 dollars. The 2019 bear scenario range is 1.0457–1.1657 dollars, with year-end at 1.0711 dollars. The February bear scenario range is 1.0969–1.1452 dollars.
From “Jemori Tetsu’s Real Trading Strategy” (Tetsu Emori)quotation.
As European politics and economics become more opaque, Emori says the euro will weigh on the market and lead to dollar buying. The euro-dollar is around the 1.13 dollar area as of 11 o’clock, but it remains to be seen whether it will shift to a dollar-strength trend from here. (Editorial staff)
