August 3, 2018 08:35: Pound/yen trade strategy [from Tetsu Emori's newsletter]

From Tetsu Shigeru Emori’s investment newsletter “Tetsu Emori’s Real Trading Strategy” provided by GogoJungle, here is a small excerpt from this morning’s distribution. This time, please take a look at the trading strategy for the pound/yen that is in a downtrend.

The pound/yen will unwind its long position and take a new short position. It is clearly declining, so I am considering capturing the short-term trend. I will maintain this until it exceeds 146 yen. The long-term trend is located at 150.60 yen. The trend remains weak and has not changed. The fair value is around 166.10 yen, and the current level is theoretically quite undervalued.

‘Tetsu Emori’s Real Trading Strategy’ quoted from (Tetsu Emori).

Following the Bank of England (BOE) policy rate hike decision and Governor Carney’s remarks, the pound/yen showed large price movements. Tonight is the U.S. employment report. Caution is advised for sudden moves around the release. (Editorial department)

Pound/Yen, 1-hour chart.

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