The factors causing the dollar/yen to rebound are taking shape
July 10, 2016 19:30
The last blog update was before the Brexit, so the market has changed quite a bit, hasn't it?
I fell ill on 6/13 and am still hospitalized.
However, I have been watching the market on my smartphone, so I will bring a computer to update the blog today for the first time in about a month.
I still can't type well, so I will keep it brief; please understand.
The risk-off market continues due to Brexit, but USD/JPY has once fallen below 100 yen and then has steadied.
In the moves after Friday's employment report, there were large wicks up and down, a shape that often appears at market reversals.
Indicators on the weekly chart show oversold signals lighting up, indicating the market is overextended.
From the larger trend, there are important levels around 95 yen just below the 100 yen mark, and it seems that this year, it wouldn't be surprising if it once held firm at such points, though it has currently reached a point where that is possible.
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The last blog update was before the Brexit, so the market has changed quite a bit, hasn't it?
I fell ill on 6/13 and am still hospitalized.
However, I have been watching the market on my smartphone, so I will bring a computer to update the blog today for the first time in about a month.
I still can't type well, so I will keep it brief; please understand.
The risk-off market continues due to Brexit, but USD/JPY has once fallen below 100 yen and then has steadied.
In the moves after Friday's employment report, there were large wicks up and down, a shape that often appears at market reversals.
Indicators on the weekly chart show oversold signals lighting up, indicating the market is overextended.
From the larger trend, there are important levels around 95 yen just below the 100 yen mark, and it seems that this year, it wouldn't be surprising if it once held firm at such points, though it has currently reached a point where that is possible.
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