Will August become the month to raise the signal flare of counterattack?!

The USD/JPY remained constrained after the U.S. GDP release, and with North Korea launching an ICBM as a further push, yen buying accelerated and the week ended in the 110 level.

Also, given that the dollar/yen had already lost its momentum to rebound from yesterday's Mnuchin remarks,

the mood was not favorable, but it does not appear that a reversal to higher levels has occurred yet.

On the monthly chart, it seems it may fail to stay above the cloud upper bound and could enter it.

From recent movement, the area below the mid-110s on the USD/JPY has shown a lower shadow,





and if August were to see a pullback in the early session, there is a strong possibility of a rebound in the latter half.

On the daily chart, the 200-day moving average is rising, and although the current rate is below it, it appears to be moving closer to the moving average

as it transitions.

This week, with policy rates from central banks around the world and the U.S. employment data coming up,

domestically, there are also materials that could halt the decline in the cabinet's support rating

First, the reshuffle of the Cabinet is reportedly considering a surprise appointment of a female minister,

and there is a scenario that this momentum could lead to a dissolution of the Diet...

From such a flow, the Nikkei Stock Average is said to want to hold the 20,000 level as a support zone

in order to signal a counterattack, domestic catalysts would need to shore up the bottom and appeal to overseas players

From the start of the week, it would be wise to listen to domestic headlines and stay prepared.



On the other hand, the euro-dollar pair has cleared a resistance line that has stood for years,

but it has not run away immediately and has been transitioning; early in the week it was in a consolidation phase,

while in the latter part of the week it has been moving higher, so if such momentum continues, there could be a risk of a sharp correction.





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