2/17 Tokyo USD/JPY exchange rate trading points
＜2/16 USD/JPY Results＞
Tokyo range: 115.60=73, NYC range: 115.36=78
Tokyo remained range-bound around the weekly point of 115.75-80.
New York surpassed the weekly point of 115.75-80 but faced resistance at the following weekly point of 115.90-95 and fell.
As a result, Tokyo hit the precise pattern (2) prize. New York used a combined technique of (1) and (2).
Forecast: 'Key point is whether the “monthly- and weekly-point zone” at 115.60=70 will act as a wall and cause a decline,
(1) The “monthly- and weekly-point zone” at 115.60=70 acts as a wall and declines, but is supported at the lower-zone weekly point of 115.30-35
Expected range: 115.30=70
(2) The “monthly- and weekly-point zone” at 115.60=70 does not act as a wall, continues to face resistance at the weekly point of 115.75-80, and moves sideways in the high price area
Expected range: 115.60=80 ’
＜2/17 Tokyo USD/JPY Outlook＞ (as of 8:20)
On 2/17 Tokyo is finally expected to break below the weekly point of 115.30-35, and it will be watched whether a downward trend can be established.
(1) Break below the weekly point 115.30-35 is realized. Tokyo stalls at a daily point of 115.10-15, but from Europe the declines extend toward the genuine “bottom-price zone” 114.70=85. Forecasted range: 114.80=115.40
(2) Today, it again finds support at the weekly point 115.30-35 and remains range-bound
Forecasted range: 113.30=50
＜2/17 Tokyo USD/JPY Analysis Diagram＞
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