February 18, 2019 06:44: USD/JPY trading strategy [From Mr. Tetsu Emori's newsletter]
From the real trading strategies newsletter "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 dollar-yen trading strategy.
The dollar-yen remains short. As of last Friday, it narrowly fell below the 110.50 yen point. Despite the rise in U.S. stocks, the move hasn’t been strong, so the action is a bit inconsistent. If we look only at dollar-yen, it’s clearly overbought. We have already increased our short positions, so we will maintain them and wait for it to move lower. If it breaks below 109.80 yen, the downtrend is likely to intensify. With stock prices making new highs, a higher yen seems unlikely, but we also consider this only a matter of time.
“Real Trading Strategy by Tetsu Emori”Quoted from (Tetsu Emori).
Emori-san predicts that while a “yen-buying” approach has been prioritized, a correction toward the yen appreciation direction will eventually occur. As of 11:00, the dollar-yen is trading in the 110s, but it seems necessary to prepare a strategy for potential movements toward the yen strength side. (Editorial department)
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