The near-term adjustment continues despite the breakout attempt!

Last week, both the USD/JPY and the Nikkei stock average showed sharp gains.

Although there was a pullback over the weekend, in the near term USD/JPY is around 115 yen and the Nikkei around 20,000 points.

It seems to have taken a breather, and I expect there will continue to be break attempts in the future.

USD/JPY has clearly broken through the daily cloud, and going forward,

I think the upper bound of the daily cloud could function as support.

However, as I have been commenting since last week, on a weekly basis the situation is tight with no room to wait, so

maintaining a single long-only buying viewpoint for too long will depend on the price movement over the next one or two weeks.

★If USD/JPY dithers, the upward momentum will disappear


On the other hand, in the dollar/yen pair, the euro/dollar is also attempting to break through the weekly cloud

and even if it remains flat this week, it will automatically enter the cloud,

and the daily cloud below sits around 1.07, so even a full correction up to this point would

be a point to fill the gap, so for a while I expect the upside to remain in play.

★Euro/dollar is preparing for a major reversal with full commitment


Therefore, as long as the dollar is being sold but the cross yen remains solid,

I see the yen selling pressure allowing USD to rise.



North Korea fired a ballistic missile in the morning on the 14th, according to the Japanese government,

which flew for about 30 minutes and landed in the Sea of Japan east of the Korean Peninsula,

and while recent missile tests had ended in failure, this time, reportedly

it was successful, though there is also speculation that it may not have withstood US cyberattacks...

Regarding this, the market reaction is expected to be temporary as before, and even if there is a large drop,

once it settles, the yen is likely to see a risk-on environment with Japan's stock market recovering.



If it falls apart for reasons other than geopolitical risk...


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