3/29 Best FX trading information for side jobs
＜3/29 Tokyo USD/JPY Outlook＞(As of 8:20)
Tokyo range: 122.15 = 124.02, New York range: 123.15 = 94
Yesterday, during European time, the yen briefly weakened to 125.08 for the first time in 6 years 7 months, then reversed.
In New York, the decline continued, but it was bought back at the low of 123.15, closing in the higher ranges.
Our view for Tokyo on 3/29 is simple.
If you break the “branching zone” 123.50 = 124.10, the flow will shift in that direction, so you just participate in the breakout with the trend.
However, 70% will end with a back-and-forth within the “branching zone,” so we view it as an adjustment phase.
Today's “branching zone” is, as you can see from the analysis diagram,
close to a thick resistance band where the Support/Resistance points are packed,
so unless a big setup occurs, it is expected that breaking to either side will be difficult.
Yesterday I forgot to post, but here is the list of information emails delivered by 18:08 on 3/28 in Tokyo. In the morning, trading was simple as per early responses, so there were only 5 emails. When the market moves, real-time deliveries increase rapidly.
＜3/29 Tokyo USD/JPY Analysis Diagram＞
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