12/9 Tokyo USD/JPY exchange rate trading points
＜12/8 Dollar/Yen results＞
Tokyo range: 113.33=57, NY range: 113.60=95
Forecast for Tokyo is that “Tokyo will drift within the 113.20=85 zone at most. 70% see the lower bound zone 113.20=30 as the downside testing area, signaling a drift (pattern 2).”
Because the buyback faced resistance at the first hurdle band 113.55-60, the minimum point interval became 113.30=60.
However, NY continued to rise, and as analyzed, moved toward the 114 yen level this week, reaching up to just below 114.00.
＜12/9 Tokyo Dollar/Yen market＞
Today’s Tokyo dollar/yen is also expected to be range-bound with little movement,the key point is whether the upside break can be realized in the “upper zone” including the “ceiling point” 113.85-90, i.e., the upside test from 113.85=114.00.
Even if the upside break is realized, the decline remains supported by the resistance band (3) at 113.50=60, so the range is expected to be a small-movement session.
＜12/9 Tokyo Dollar/Yen market analysis diagram＞
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