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＜Result for 3/31 USD/JPY＞
Tokyo range: 121.35=122.45, NY range: 121.28=84
Tokyo yesterday was a rare large miss.
The breakout above the “divergence zone” 121.70=122.25 initially led, but it did not sustain the expected upside beyond the high of 122.45, and it fell sharply around 3:00 PM.
It fell below the “divergence zone,” but was supported at the next point and ended with a rebound, so it did not become a sharp drop.
＜4/1 Tokyo USD/JPY outlook＞ (as of 7:30)
Since I’ll be away this morning, I’m uploading the information early.
In Tokyo, the market was simply waiting to see which side of the “divergence zone” 121.45=65 it would unfold on, and to follow the breakout with a long entry. However, as of 7:30, a breakout occurred, and the next daily point around 121.80-85 acts as a wall, suggesting mild softening.
Therefore, there remains a possibility of a drop to the “divergence zone” before the 9:00 open, and then an open.
Even in that case, the breakout above the “divergence zone” 121.45=65 would likely lead to a move targeting the upper limit zone of 121.95=122.05.
＜4/1 Tokyo USD/JPY analysis chart＞
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