Dollar Yen finally resumes its rise?! And the cross-yen pairs have obtained the condition to test a rebound!

This week, as expected, the dollar-yen dropped below the mid-111 level,

the downward pressure has significantly increased.

However, in the 110-yen area there appears to be substantial buying, and in yesterday’s New York market,

although it slipped below 111 yen, turning to the downside, the ObamaCare replacement bill

voted down caused a rebound, and the dollar/yen moved to the 111 range just before the New York close.





Now that only one week remains in March, the domestic market year-end factors are also coming into play,

and the sense is that risk aversion may ease somewhat.

Therefore, while the dollar-yen supports the current level,

once the new fiscal year begins, the domestic market tends to skew toward stock buying and yen selling,

so if it remains supported around the 110s for this week, April could see a rise.

Originally, in the short term, the plan was to wait for deeper pullbacks before buying the dollar-yen,

so I would like to buy around 111-110 and aim for a rebound.




Ask Ultimate MAX chart shows an overbought signal on the daily chart, so at some point next week a rebound is likely, and this could turn into a fresh buying signal, creating a new buying opportunity.

It is worth keeping in mind as a possibility.





On the other hand, looking at the cross pairs (please check the Market Compass article),

pound-yen and euro-yen have not fallen dramatically

and pound-yen is finally moving into the cloud on the weekly chart,

with upper levels in the 140s remaining heavy, but if it closes the week around the 140s

it may set the stage to test a rebound.

From the recent trend, when prices fall, they drop sharply,

and there is a possibility that this gradual decline could be rapidly bought back.

It is viewed not as a reversal of the market, but as a rebound within the range of a return move.


Dollar/Yen... already broke above the weekly cloud
Australian dollar/Yen... already broke above the weekly cloud
Euro/Yen... currently transitioning within the weekly cloud
Pound/Yen... entered the cloud this week


Previous article
Forecasting the future of the dollar/yen by analyzing cross yen pairs
The future move of the yen depends on cross yen pairs




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Ask Ultimate Shadow: Pound/Yen chart


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