The Future Direction of the Foreign Exchange Market 134th Issue
Japan's only FX specialized magazine "FX Sōryaku.com" had a popular series over 130 installments titled "The Future Path of the Foreign Exchange Market." We will continue to have economist Tomotaro Tajima explain, as he does on the Web, how the constantly moving market is expected to move in the future.
Tomotaro Tajima [Profile]
Tajima Tomotaro. Economic analyst. CEO of Alfinaunts. Born in Tokyo in 1964. After graduating from Keio University, he transitioned from working at currently Mitsubishi UFJ Securities to other endeavors. He analyzes and researches a wide range from finance and the economy in general to strategic corporate management, and even to individual asset formation and fund management. He has served as a lecturer at lectures, seminars, and training events organized by private companies, financial institutions, newspapers, local governments, and various business associations, with about 150 lectures per year. He has written and commented extensively in print media, including weekly magazines like "Gendai" (The Modern Times) "The Rules of Net Trading" and Examina's "Money Maestro Training Course." He has also written numerous columns on many websites about stocks and foreign exchange, earning high regard as a stock and FX strategist. He is also responsible for the Home Economics section of Shogakukan's "Gendai Yōchi no Kiso Chishiki" (Basic Knowledge of Contemporary Terms). He has had regular appearances on TV (TV Asahi "Yaji-uma Plus," BS Asahi "Sunday Online") and radio (MBS "Tsuruhiko's Asaichi Radio"), and currently serves as a regular commentator on Nikkei CNBC's "Market Wrap" and Daiwa Securities Information TV's "Economy Marche." His major DVDs include "Very Easy to Understand: Tajima Tomotaro's FX Introduction" and "Very Easy to Understand: Tajima Tomotaro's FX Practical Technical Analysis Edition." His major books include "Wealth Review Manual" (Pāru Publishing), "FX Chart 'Formula for Profit'" (Alchemix), "Why Can You Be Asset Rich with FX?" (Text) and many others. The latest volume is "How to Profit by Riding the Rising U.S. Economy" (Shiyu Kokumin Sha).
Back issues of "The Future Path of the Foreign Exchange Market," serialized in the monthly magazine "FX Sōryaku.com," can be viewed in the flat-rate service "Money Up" (supervised by the FX Sōryaku.com editorial department), where famous traders' articles and videos allow you to learn FX.
⇒Details of Money Up are here
Is the dollar’s decline against major currencies near its peak?
Since April began, the USD/JPY has consistently fallen. It is true that the rise in U.S. Treasury yields peaked at the end of March, but at the same time a technical adjustment phase has begun and should not be overlooked.
The USD/JPY capped at its March-end high of 110.97 yen, largely due to the presence of the Ichimoku Kinko Hyo monthly cloud. Currently, the lower bound of the monthly cloud sits around 110.14 yen, and as prices rise toward this level, they are likely to face resistance and pull back temporarily.
Also, it is worth noting that the rise from the January low to the March high appears to have completed an Elliott Wave “five-wave impulse” at that high. In other words, since April, one can see a corrective wave forming. (Further content requires paid access.)
