June 13, 2019 08:30:00: Dollar/Yen trading strategy [From Mr. Satoru Emori's newsletter]
From the investment e-newsletter "Tetsu Emori's 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 USD/JPY will be watched with caution. There is still room for upside, but stock prices are somewhat unstable, which is restraining the upside. Basically, the market environment favors easier unwinding of dollar long positions, but on the other hand, with Japan's political situation and the G20 Summit approaching, moves are difficult. There is a possibility of sudden favorable or unfavorable news, and it can be said that USD/JPY is hard to push lower. If it seems likely to support around the current 108.40 yen level, there may be a chance to test the upside for a while. However, even in that case, 109 yen is considered quite heavy. Conversely, breaking above 109 yen could lead to a fairly strong rise. For now, both sides should be watched.
“Tetsu Emori's Real Trading Strategy” (Tetsu Emori)quoted from.
As of 11:00, USD/JPY is in the low 108 yen range. With high political risk, a wait-and-see mood seems to be spreading. Be mindful of sudden favorable or unfavorable developments. (Editorial Department)
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