20180302 Lite - (Daily Foreign Exchange News)

Hello!!

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

This week is until today as well.
By the way, the U.S. employment statistics will be on the 9th next week.
I’d like to pay attention.
Let’s do our best today as well (^▽^)/

The other day from the Tokyo market to the London market,
the dollar and yen strengthening trend continued, staying firm,
and in the NY market in the morning,
the U.S. February ISM Manufacturing Index came in at 60.8,
exceeding the forecast and January's 59.1,
and the U.S. initial jobless claims fell to 210,000,
leading to a rise to 107.20 yen.

However, afterward, Fed Chair Powell mentioned gradual rate hikes during his testimony to the Senate Banking Committee,
similar to the House, but expressed a somewhat dovish view on the labor market,
and with the White House delaying the announcement of tariff increases, the market paused.
Additionally, as President Trump announced tariffs on steel and aluminum,
protective trade policies by the Trump administration became unattractive,
causing the yen to slip from 107.20 to 106.16 yen.

※ Recently, the Oceania market has been hitting new lows.We are approaching the 106 yen key level.

Technically, the 4-hour lagging span price repeatedly follows this trend,
and at the 25-period daily accelerated countdown day, around the cloud twist day,
near the price cloud twist, 4-hour cloud break,
and the lagging span cross line forms a high, then declines.
From the 8-hour cloud resistance, along the lagging span turning line
the price crosses down, continuing the daily downtrend.
Prices cross down from the 8-hour cloud resistance along the lagging span turning line,
continuing the daily downtrend.

Pay attention to the weekly ascending wave line,
as there is a sign of re-entering a multi-timeframe downtrend,
we will chase the decline and also initiate convergence reversals.

Also pay attention to the 4-hour lagging span price cycle.

This was the development the other day.

Movement remained small, but the dollar and yen strength continued.
After a steep decline in U.S. stocks, the Nikkei Average opened over 350 points lower
and then the decline broadened, but the forex reaction was limited,
staying at 106.55 yen low and hovering in the 106 yen range.
In the afternoon, it recovered slightly to 106.87 yen.

Cross currencies attempted to recover against the dollar,
but stalled, while the dollar/yen maintained the late Tokyo level in the upper 106s.

-- New York Market --
　
Morning: U.S. February ISM Manufacturing Index was 60.8,
surpassing January's 59.1, and U.S. initial jobless claims were 210,000,
rising to 107.20 yen.
　　
However, afterward, Fed Chair Powell’s testimony before the Senate Banking Committee
indicated further gradual rate hikes as in the House,
but he delivered a somewhat dovish view on the labor market,
and with the White House delaying tariff announcements,
the market struggled to extend gains.
　　
Additionally, due to tariffs on steel and aluminum by President Trump,
protective trade policies were discouraged,
and the price fell from 107.20 to 106.16 yen.

In that environment, technically the 4-hour lagging span price rose,
then the 1-hour and 4-hour cloud twists became resistance, causing a decline,
and the 4-hour lagging span price crossing below the cloud led to a drop,
continuing the daily downtrend.
This setup has been functioning reliably.

In the recent Tokyo market, trading moved with the 4-hour lagging span price,
as mini fluctuations around the 1-hour lagging cloud,
then pushed higher toward the NY market along the lagging cloud.
The price rose to near the lagging span price,
where the cloud twist near the price acted as a turning point, after which
the lagging span price descended in a cycle. The recent lows break, progressing toward a similar low zone.
The trend is downward.

Today's forecasted development.

※ This forecast is based on a composite analysis and is not guaranteed; please make your own investment decisions.

※ The forex newspaper includes analyses of the important lines shown here. Please see the sample for details.