February 12, 2019 08:10:00: USD/JPY trading strategy [From Mr. Tetsu Emori's newsletter]
From the real-time trading strategy newsletter "Tetsu Emori's Real Trading Strategy" by Tetsu Emori, provided by GogoJungle, here is a small excerpt from this morning. This time, please take a look at the USD/JPY trading strategy.
We will maintain a short position on USD/JPY. Dollar buying is dominant, but the market seems to understand this as risk-on. So far, it has been rising cleanly, which could raise expectations for further gains. With that premise in mind, I’d like to monitor whether it surpasses 110.60. If it breaks above 110.60, there is the potential to rise toward around 111.50, but first we will confirm a break above 110.60. We will first add to shorts, then observe the subsequent movement. Right now, European currencies such as the euro and the pound are being sold, making the dollar easier to buy. Additionally, since there is no catalyst for the yen, USD/JPY is rising. However, in the end, it will shift to a risk-off scenario where both the dollar and the yen are bought, following a typical risk-off pattern.
"Tetsu Emori's Real Trading Strategy" (Tetsu Emori)Quoted from.
As of 11:00, USD/JPY is trading in the 110 yen range. During the three-day holiday, dollar buying became dominant, but it remains to be seen whether this momentum will continue in the future. (Editorial Department)
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