If you’re adjusting at the 米 (rice) Thanksgiving, will you again focus on the 200-day moving average and test the upside?

The dollar/yen pair, after President Trump first visited Japan, saw limited upside as resistance lines around the long-term 125 yen level and a horizontal line in the mid-term around 115 yen were acknowledged and pushed back.

There was also the possibility that positions of overseas traders were being adjusted ahead of the US Thanksgiving, keeping upside expectations in check.

Moreover, since long dollar-buying positions were expanding, a correction may have occurred.

As I wrote on my blog, until after Thanksgiving it’s better not to get involved.

Indeed, the market has changed rapidly.





This weekend the market closed around the 111 yen level, having retraced to roughly halfway between the September low and the November high,

and before the Thanksgiving break, before entering a full-year end trading period, there may be one more round of price action.

If market participants are veteran traders, new positions would be held back toward Thanksgiving

and positions would be lightened, so considering this,

we should focus on the changes in the US dollar market from the start of next week.

Basically, overseas financial institutions’ traders tend not to participate in year-end trading if they are already making profits,

so the week after Thanksgiving could be the last big move of the year, making for one final push of the year.

Therefore, we should watch for US dollar catalysts as they appear, and in the dollar/yen,

since it has slightly dipped below the 200-day moving average, it will be important to see whether it rebounds.



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This is the article ⇒“What happened around the 111 yen break ………”



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