August 9, 2018, 02:58: Dollar/Yen falls below 111 [from Rikiya Shima's email magazine]
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Regarding the USD/JPY hovering around 110.90-111.00 after dipping into the 110 yen range during European time yesterday, as reported by GogoJungle in the investment newsletter “Shima Rikio's Practical Real Trading,” Shima-san writes the following:
The US-China trade talks will begin on August 9. There isn't any news released specifically, but the yen is gradually strengthening. A trendline coming from the March 26 low of 104.54 yen sits around 111 yen, and if this continues, it looks like the close will break below that line. This would mean breaking the upward trendline, so I would close any long positions in USD/JPY.
From “Shima Rikio's Practical Real Trading” (Shima Rikio)引用。
Amid the midsummer doldrums, the US-Japan trade negotiations are in focus to see what impact they will have on USD/JPY. (Editorial)
USD/JPY, weekly chart.
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