2/1 Tokyo USD/JPY market trading points
＜January 31 USD/JPY Results＞
Tokyo Range: 115.23=59, NY Range: 114.92=48
Yesterday in Tokyo, there was momentum to open above 115.25 and aim for 122, but the market restrained it again and the result was a retreat.
Open started in gray territory at @115.25 or below. While buying led, it did not fully break and fell.
As planned in the morning, buying on a dip from @115.45 occurred, but in Europe it fell further to 115.35, and since the movement looked clearly odd, we cut losses immediately.
Moreover, since a thick resistance zone forming at key points would appear, Europe and NY were kept on hold.
Again, advisers should not get carried away.
＜February 1 Tokyo USD/JPY Outlook＞ (As of 8:20)
Yesterday, a rapid move aimed at the weekly point zone 115.70=80 was expected to continue the strong upward trend, but it became a correction phase.
Thus, the flow aiming for the 122 range remains unchanged, but realization is likely no sooner than the latter half of February.
As usual, we will verify daily points and narrow down the timing.
On February 1, Tokyo first faces the important premise of opening and developing above the branching zone 115.10=20, and if realized, the upward trend continues.
Therefore, we will view it under that big premise with two development patterns.
(1) Buying-led, but facing resistance at the weekly point zone 115.30=40, resulting in a small range and end.
If realized up to this point, continuity from Europe is expected.
Forecast Range: 115.10=40
(2) Could not push to 115.30=40 of the weekly point zone, ending with a half-hearted range. Watch whether movement from Europe resumes.
Forecast Range: 115.05=25
＜February 1 Tokyo USD/JPY Analysis Diagram＞
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