April 18, 2019 04:45: Dollar-Yen Strategy [From Mr. Rikio Shima's newsletter]
From the investment email magazine "Shima Rikio's Practical Real Trade" by Shima Rikio provided by GogoJungle, here is a brief excerpt from this morning's distribution. This time, please take a look at the dollar-yen trading strategy.Mr. Shima seems to be focusing on the narrow range and volatility.
This week’s USD/JPY range is high 112.17, low 111.85, range of 32 pips. This is a weekly range narrower than the one in the most recent narrow range week of January 13, 2012 (high 77.04, low 76.66, 38-pip range).
Earlier than that, there were weeks of May 6, 1988 (high 125.00, low 124.65, 35-pip range) and May 15, 1987 (high 139.80, low 139.50, 30-pip range), but around this range the reliability of Bloomberg data becomes questionable. A narrower range would be in the 1970s, a time when dollar-yen trading was not as free.
'Shima Rikio's Practical Real Trade' (Shima Rikio)Quoted.
Today there are releases such as Europe’s PMI and U.S. retail sales. It will be interesting to see how these affect USD/JPY. (Editorial staff)