3/4 FX trading points as a side business
＜3/3 USD/JPY Results＞
Tokyo range: 115.49=73, New York range: 115.39=72
3/3 Tokyo analysis:
'The key is whether the ongoing ceiling-testing momentum since yesterday can continue.
Tokyo's ideal upper limit is the "ceiling zone" 115.85=116.00, but the key point is whether it can rise to the nearby "weekly point zone" 115.60=75.
First, can Tokyo on 3/3 rise to the "weekly point zone" 115.60=75 and close there, or will it hit a wall,
and trigger an early pullback from European time?
＜3/4 Tokyo USD/JPY outlook＞(as of 8:20)
The 3/3 USD/JPY both in Tokyo and New York clearly faced a wall at the assumed "weekly point zone" 115.60-75 and ended in nearly the same range.
As a result, the pullback began from New York.
On 3/3 Tokyo,the flow will move toward the daily support zone 115.40-45 that has held,but the movement itself is viewed as a small correction in a corrective market.
(1) If it breaks upward first, it will meet resistance at the initial "upper limit zone" 115.60=75 and trade sideways in the high range. Expected range: 115.40=75
(2) If it breaks downward first, it is seen as a 70% support at the "resistance point" 115.20-25. Expected range: 115.20=45
However, from that drop onward, starting from European time, the monthly point at 114.95-00 is expected to continue to fall.
＜3/4 Tokyo USD/JPY schematic analysis＞
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