2/3 Tokyo Dollar-Yen Exchange Rate Buy/Sell Points
＜2/2/ Dollar-Yen Market Results＞
Tokyo Range: 114.60=80, New York Range: 114.16=46
Tokyo's forecast is that the key point is whether Tokyo will be supported and rebound within a zone that includes the point where the black circle becomes the bottom.
(1) Supported at the first bottom zone 114.60=80, rebound in the afternoon
(2) Bottomed in the second bottom zone 114.10=30, rebound from here
Tokyo hit the pattern (1) exactly, but since they broke the first bottom point 114.70-75, attention to a decline from Europe increased.
As feared, it began to fall after Tokyo closed.
With this, the bottom-zone break is decided, and as stated in yesterday afternoon's article, “since we’ve fallen to near the major bottom candidates, from here it will be a matter of whether it continues to fall or rebounds, so respond actively.” It became a scene to sell dollars.
＜2/3 Tokyo Dollar-Yen Buy/Sell Points＞ (as of 8:20)
In New York,the break of the major bottom point 114.50-55 was confirmed, turning into a “dollar-selling dominance market, so 2/3 Tokyo also sees a downward trend.
However, Tokyo’s downside is expected to limit at the lower bound zone of 113.85=114.05 at most.
And whether that support becomes a pause in the continued decline, or leads to a corrective market aiming for 115.00, will be the determining factor.
(1) Rebound ends with a wall at the ceiling point 114.50–55, with small moves
Forecast range: 114.25=55
(2) Still bearish dominance with a break attempt in the “divergence zone” 114.25–30, but not a full break, ending mid-range. Expectation for a drop from Europe/America.
Forecast range: 114.15=45
(3) Break of the weekly-support point 114.25–30 that became strong in New York is realized. Tokyo sees the lower-limit zone 113.85=114.05 as the end of the decline
Forecast range: 113.85=114.40
(4) If Tokyo opens at the ceiling point 114.50–55, a rebound should be anticipated
Forecast range: 114.50=80
＜2/3 Tokyo Analysis Diagram＞
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