August 2, 2018 08:27: Yen-Dollar Trade Strategy [From Mr. Satoru Emori's Email Newsletter]
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From the investment newsletter "Tetsuya Emori's Real Trading Strategy" by Tetsuya Emori, provided by GogoJungle, here is a small portion from this morning's distribution. This time, please take a look at the trading strategy for the USD/JPY that was repurchased following the Federal Reserve's monetary policy decision.
The expected range for USD/JPY in August is bullish: 114.49 to 120.54 yen, bearish: 105.52 to 110.67 yen. Currently, the range upper bound of the bearish scenario has been exceeded, while the lower bound of the bullish scenario has fallen below. It is exactly a neutral movement. However, considering the current U.S. trade policy toward Japan, it is hard to expect above 115 yen. On the other hand, the fair value for USD/JPY is 109.20 yen. The current level is above that, so it can be said to be inclined to rise for now. Also, the long-term trend is 110.20 yen, which has also been exceeded, suggesting a tendency for the market to move upward.
Quoted from “Tetsuya Emori's Real Trading Strategy” (Tetsuya Emori).
Tomorrow the 3rd, U.S. employment data is due, and a mood of watching and waiting may spread again (Editorial staff)
USD/JPY, 1-hour chart.
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