12/8 Tokyo USD/JPY exchange rate trading points
＜12/7 USD/JPY Result＞
Tokyo range: 113.40=74, NY range: 113.47=78
12/7 Tokyo stated: "Even at most up to the upper limit zone of 113.75=114.10, in practice the best is the lower edge of the '113.75=85 zone'. First, whether we can move above the first resistance band (3) 113.55–60 is the key."
As a result, we did move above the resistance band (3) 113.55-60, but as expected, it faced a wall at the lower edge of the 'upper limit zone' 113.75=10 at 113.75.
＜12/8 Tokyo USD/JPY Market＞ (as of 8:30)
Today's Tokyo market is range-bound around the 113.20=85 zone.
70%“Lower-edge zone” 113.20=30’s downside test leads to a range-bound pattern (pattern (2))in our view.
Therefore, from an investment perspective, it’s a challenging day.
＜12/8 Tokyo USD/JPY Analytical Diagram＞
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