March 6, 2019 08:28: USD/JPY trade strategy [From Mr. Teru Emori's email magazine]
From the investment newsletter "Tetsu Emori's Real Trading Strategy" by Emori Tetsu, provided by GogoJungle, here is a small excerpt from this morning's distribution. This time, please take a look at the USD/JPY trading strategy.
We will maintain a short position on USD/JPY. It has lost direction in the high price area, but the sentiment to buy has become quite excessive. If stock prices fall here, it could become easier to sell. We do not expect support to solidify above the 111.75 yen level, but it is also true that it has been performing sturdily beyond expectations. First, we will monitor stock movements and check whether it breaks below 11.75 yen. If it then breaks below 111.558 yen, we expect a downward trend to begin. In any case, it will depend on stock prices. If stock prices start to decline, the safe-haven yen is likely to be bought. Below 111.55 yen, I would like to add to short positions. Since there is still considerable room to fall, once the decline begins, it could drop to around 110.90 yen. If this is broken further, a drop to 110 yen is anticipated.
"Tetsu Emori's Real Trading Strategy" (Tetsu Emori)quoted.
Emori says he wants to clearly understand once again that dollar weakness is a fundamental policy of the United States. It will be important to watch how President Trump, who dislikes dollar strength, will affect the Japan-U.S. trade talks. (Editorial staff)
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