2/2 Tokyo-dollar-yen exchange rate trading points
＜February 1 USD/JPY Results＞
Tokyo Range: 114.88=115.18, New York Range: 114.64=88
January 31 saw an unexpected drop, but yesterday, February 1 in Tokyo, we did not attack the bottom target of 114.90-95, still saw buying interest, and finished by driving into the solid bottom target.
After pressing to the bottom, a typical pattern would be a rebound, but this time European markets continued to fall, and the moment I felt the discrepancy I had sensed three days prior clearly shifted to a downside-led scenario.
＜February 2 Tokyo USD/JPY Points＞ (As of 8/20)
Actually,this week's Tokyo on 2/2 producedtwo consecutive “black dots formed at the bottom points”— an extremely rare situationthat was realized.
However, since we were expecting an upward trend this week, it was not shown in the “Weekly Analysis Diagram,” and yesterday afternoon, from Europe, we described and added display of the noteBlack dot 114.70-75indicating possible further decline, and updated the “Weekly Analysis Diagram.”
In fact, in New YorkBlack dot 114.70-75included“Lower bound Zone” 114.60=80to have fallen to.
That is the power of the black dots.
In Tokyo,”WhichBlack dotbecame the bottom point” is the zone that will be supported and buy-back momentum may startis the key point we see.
(1) The first bottom zone 114.60=80 is supported and a buy-back pattern starts in the afternoon
(2) The second bottom zone 114.10=30 stops the decline and a buy-back pattern starts from here
This week’s weekly market view turned out to be wrong.
Last week's weekly report also turned out to have the opposite market development; financially it was a big success, but the market view was incorrect.
I carelessly missed publishing last week's weekly report, but I don’t want the consecutive posts to stop, so I will publish it later.
