USD/JPY Monday's market and future strategies

The USD/JPY rose about 1 yen starting from an upside gap on Monday.

Buying momentum remains, and in the short term, it is an environment where dip buying can easily enter.

However, a feature of this rise is that it started with a gap.

In the foreign exchange market, gaps like this tend to be filled eventually, so

from this perspective as well, we are aware that there is a possibility of movement downward in the future.

159 yen level is a level to watch

The 159 yen level that is currently being watched is somewhat of a special level.

This price range has repeatedly seen verbal interventions,

and looking at past charts, it is a point where the upside tends to stop.

Therefore, even if there is still room to rise

it should be enough to assume up to around 161 yen at most.

Rather than chasing sharply higher from here,

considering the risk and reward, I see a higher probability for a short position.

Current basic strategy

The strategy remains unchanged from before

• Hold a thin short position

• Take quick long entries on brief rebounds

in this pattern.

I can somewhat read the rebound points with my own method,

so I avoid chasing and aim to exit in the short term.

Although the market is in a strong phase,

I don’t think it’s necessary to force long positions in this price range.

Don’t rush;

the market is one where you should take only where you have an edge.