20180227号-lite (Daily Foreign Exchange News)

Hello!! This is MK fund (^▽^)/
Thank you as always.

The other day in the early morning, in the Oceania market, near 107.20 yen the
stop loss was hit up to 107.27 yen, but in the Tokyo market that followed, apart from stop losses there were few factors that would trigger buying,
and with some domestic banks' surplus (dollar selling, yen buying) at the fixing,
the price drifted lower,
breaking the prior Friday's low of 106.
to 106.44 yen, it widened the downside.44 yen and expanding the downside.
This has become the development.

Even after that, the mood remained heavy through the London market, and since the 19th,
the down move extended to the week-low of 106.38 yen,
but in the NY market, the Dow average rose by more than 400 dollars from last week’s close,and
the dollar demand at the end-of-month London fixing
pushed the London market's low from 106.38 yen to around 107.07 yen higher.
This is the development.

Technically, the 1-hour wave moved to the right, repeatedly updating the lows
and the equal-height high area provided support, causing a rise along the wave pattern.
The price, which had been gradually falling while testing the 4-hour cloud lower line,
found support at the cloud lower line and rose along the cloud,
in line with the lagging span price.
It is now trading near the 8-hour lagging span price.

Continuing to gauge momentum with the waves,
watch the 4-hour price turning line, baseline, and lagging span turning line as resistance and support,
the price cloud support, and the lagging span price as references.
Also consider the downside along the 8-hour lagging span price.
Pursuing a long-term downtrend,
with convergence reversal or acceleration of moves in sight.

As the month ends, converging toward the 4-hour cloud twist,
or scenarios centered on the 1-hour and 4-hour cloud for gains and losses
are also in view.

I intend to align gains and losses firmly.

Let’s work hard today as well (^▽^)/

Development from the other day.

　　　
In the early Oceania market, near 107.20 yen stop loss was hit
and rose to 107.27 yen,but apart from the stop loss there was little in the way of bullish catalysts, and some domestic banks were left with surplus at the fixing (dollar selling, yen buying),
so it gradually declined,
breaking the prior Friday’s low to 106.
44 yen and expanding the downside.
In the afternoon, though many market participants were slow to sell, stocks were firm,
so there was insufficient material to push; it retraced slightly to around 106.65 yen.

From Asia time, the heavy mood continued, and since the 19th the downside widened to 106.38 yen,
but thanks to the resilience of each currency against the dollar, the cross-yen found support and rebounded to around 106.60 yen.


With Powell scheduled to give his first congressional testimony as the new Fed chair on the 27th,
there is a cautious mood, making a strong directional move unlikely.

-- NY Market --
　
The Dow rose by more than 400 dollars from last week's close, and due to dollar demand at the London fixing, the London market rose from the low of 106.38 yen to around 107.07 yen.
However, US January new housing starts were 593,000, below December's 643,000 (revised),

and Fed President Bullard's doveish comments limited upside.
In this environment, technically the price rose from the 4-hour cloud support along the lagging span price,
and with the 1-hour equal relationship resistance/support guiding the move,

In this context, the 4-hour cloud support continues to shape the move,
and the price action follows the lagging span price,
rallying and then aligning with the moving averages.
This is a robust unfolding.

----- Technical Developments -----

Recently in the Oceania market, the 8-hour turning line and the 4-hour baseline,and near the 1-hour cloud,
price rose and then descended from the rally.
The upward wave moved to the right and updated the lows toward the London market.
In London, the equal-relationship high point S and the daily upside wave line became support,
then moved back to the NY market, aligning with the 4-hour cloud,
rising along the lagging span price.
The 4-hour baseline and turning line are within expected ranges.