USD/JPY long-term strategy again selling opportunity‼
The USD/JPY rate has fallen rapidly after dropping below 110 yen.
The immediate support, including last year’s low, has also been breached.
In some articles, when 105 yen was seen breached, many articles also talked about a 100 yen horizon, but
personally, I have also published articles warning of a sharp rebound.
At this stage, there is momentum for a rebound pushing toward the 110 yen range.
Market Compass Articles updated February 18, 2018
Now, from here, although Ask Ultimate MAX shows buy signals on the four-hour and daily charts,
the weekly chart has a selling signal as the market is already overbought,
so medium-term long positions should be closed, and long-term prospects point to another sell-off opportunity.
This is becoming an opportunity for a long-term selling opportunity.
If you draw a rising support line from historical lows on the USD/JPY indicator chart,
the price has once breached the support line and is now rapidly approaching it again.
Basically, once it clearly breaks below, the support turns into resistance,
and there is a strong tendency for it to be hit again.
At such a point, if a long-term sell signal appears, I would tighten the stop and
try selling to see what happens.
Domestically, during Golden Week the Tokyo session basically doesn’t move, but the overseas markets should be watched.
After GW, conditions tend to change in the market, and many cases become turning points throughout the year,
so next month’s USD/JPY market and the Tokyo market after Golden Week deserve attention.
In “Market Compass,” the rebound from the euro-dollar low and
the accurate forecast of the adjustment decline near around 1.25 this time‼
★The indicators used on the chart this time are these!
★ The indicator used in the GBP/JPY strategy article is this!
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