2/7 Tokyo USD/JPY Buy/Sell Points
＜2/7 Tokyo USD/JPY Development Points＞ (As of 8:20)
Tokyo seems poised to open above the “break zone” 115.00-20, but the focus is on whether it will finish the movement above the break zone or end by breaking lower at the end.
This week, the key point is when the market will shift to a “yen-selling first” trend, and whether that happens at the start of the week or after tomorrow will affect the downside momentum.
Three development scenarios are considered.
(1) Breakout-leading attempt above the “upper limit zone” 115.55-80 materializes
Forecast range: 115.20-60
(2) Ends with a mid-range, small movement
Forecast range: 115.20-40
(3) Break-down attempt below the “break zone” 115.00-20 advances. Break below after 15:00
Forecast range: 114.90-115.20
＜2/7 Tokyo Analysis Diagram＞
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