20180228号-lite (Daily Foreign Exchange News)

Hello!!

MK fund desu (^▽^)/
Thank you as always.

From Tokyo market to London market the other day,
there was a wait for the Fed Chair’s testimony, resulting in a narrow trading range,
and in the NY market, Powell, the Fed chair, testified before the House Financial Services Committee,
showing optimism that the economy has strengthened and expressing confidence in reaching the 2% inflation target,
and signaling further gradual rate hikes,
which raised expectations for four rate hikes this year, with the pair rising to 107.68 yen.
Afterward, the Dow fell more than 300 points from the previous day,

keeping upside limited.

Technically, the 1-hour cloud provided support from the fluctuation within the cloud,
and it rose in alignment with the upward wave.
After rising along the 4-hour price cloud, the lagging span price moved from the resistance of the cloud into the cloud itself.
Around the 8-hour price cloud and near the daily 23.6% level, the movement rose
and is unfolding.

Continuing to gauge momentum with waves,
watching the 1-hour equality position, the 4-hour cloud line as support and resistance,
the position of the lagging span price,
focusing on the 4-hour cloud twist for rise or fall,
and considering P-wave convergence as well,
we aim to break out from the fluctuations.

Let’s keep at it all day today (^▽^)/

The developments the other day.

In the morning, it trades within a narrow range around the upper 106s to around 107.
Because European currencies were firm, it moved from 107.10 to about 106.79 yen,
showing some weakness, but gradually recovered to above 107 yen.
In the afternoon, trading remained within an even narrower range than in the morning.
Near 107.00 yen to around 106.90 yen, with little clear direction.

Supported by selling of crosses, it briefly reached 107.11 yen,
and gradually widened the upper end of today’s range.
However, afterward activity was limited, selling of the yen did not intensify,
and it gradually unwound.

--NY Market--
　
In testimony before the House Financial Services Committee, Powell indicated the economy
has strengthened with an optimistic view,
and demonstrated confidence in reaching the 2% inflation target,
raising expectations for four rate hikes this year,
　　
and sending it up to 107.68 yen.Additionally, the U.S. February Consumer Confidence Index rose to a high not seen since November 2000 at 130.8,
exceeding expectations and the January revised 124.3,
and the U.S. 10-year yield rose to 2.923%,which supported dollar buying.

However, afterward,the Dow fell more than 300 points from the previous day,
keeping upside limited.
     

Meanwhile, technically, from the 1-hour cloud support the rise followed the wave;
from the 4-hour cloud support it rose along the cloud, and near the lagging span price
the price approached the cloud area,and rose toward the price cloud region,
where it then faced resistance.

Yesterday in Tokyo, the trend continued from the day before,
with the 1-hour cloud bottom providing support, the fluctuation moved in and out of the cloud,
and toward London market period, it rose above the cloud in fluctuation,
then descended along the cloud,
in the NY market morning, with the rising wave line, cloud, and conversion line providing support
and moving to the right beyond the rising wave line to update the high.
Rising toward around the cloud top in line with the 4-hour cloud,
and in the 1-hour equal-move, rising up to the previous wave line vicinity,
showing upward movement.

A basic display of high/low values and Fibonacci time zones for quick reference.

The trend signals are visible at a glance.