August 24, 2018 08:35: South Africa Rand/Japanese Yen Trade Strategy [From Mr. Tetsu Emori's newsletter]
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From Tomo 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 see the trading strategy for the South African rand-yen that was criticized by President Trump and led to a drop in its value.
The South Africa rand/yen remains long. The rand itself is weakening due to dollar strength, but the rise in the USD/JPY is affecting it. It will be kept until it falls below 7.70 yen. The target is the key 8 yen. However, it seems difficult to break above the long-term trend of 8.55 yen.
From “Tetsu Emori's Real Trading Strategy” (Tetsu Emori) quoted.
With the rise of the dollar against emerging market and European currencies, the dollar is strengthening. Will the dollar buying continue at this pace? (Editorial department)
South Africa rand/yen, 1-hour chart.
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