3/28 Best FX trading information as a side business on the internet
＜Results for 3/25 USD/JPY＞
Tokyo range: 121.18=122.35, New York range: 121.64=122.25
On 3/25, treating it as a correction phase, there were slight deviations in the predicted drop level at the open,
as forecast, a large downward move after a long timebecame evident.
However, the decline was supported by the “monthly/weekly point zone” 121.10=35,
causing Tokyo to rebound strongly up to the monthly point 121.85-90, and the rebound continued into Europe and the U.S. as the week ended.
＜3/28 Tokyo dollar-yen outlook＞(as of 8:20)
From early morning, the expected “testing of the ceiling” after the Tokyo open advanced first.
The “ceiling point” at 122.35-40 formed a clean wall and a pause ensued.
On 3/28, in Tokyo, the ceiling at 122.35-40 acted as a wall, and the market closed with a choppy zone around 121.65=122.40, which is what to watch.
This is the key point of this week's weekly briefing.
If it unfolds as expected,this week’s trading would aim to lower toward the monthly point range 121.85-90 as a lower bound, and target the upper bound zone around 122.95=122.30 as the anticipated rangein our view.
(1) The attempt to push above the ceiling point 122.35-40 is realized but remains a wall, ending with a sideways range in the high-price area.
Estimated range: 122.10=40
However,from European time, a drift toward buying dollars to aim for the ceiling point beganin Europe.
(2) The ceiling at 122.35-40 acts as a wall, with the downside zone extending to a maximum lower bound of 121.65=1.90.
＜3/28 Tokyo USD/JPY Analysis Chart＞
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