September 14, 2018 08:32: Dollar/Yen trade strategy [From Mr. Satoshi Emori’s newsletter]
0
From the investment e-newsletter "Jemori Satoshi's Real Trading Strategy" by Esato Jemori, provided by GogoJungle, here is a small excerpt from this morning's message. This time, please take a look at the trading strategy for USD/JPY that reached the 112 yen level for the first time in about a month and a half.
We will keep a long on USD/JPY. It has entered the 112 yen level. However, there is also a strong sense of being overbought, so this area deserves caution. We will close positions if it falls below 111.60 yen. That said, the market is becoming risk-on. Emerging market currencies have also stabilized somewhat. The United States may be loosening its stance soon. If that happens, stock prices and the dollar could try to move higher for a while. However, since other currencies are stronger than the dollar, the rise of USD/JPY will depend on the rise of cross yen pairs. Basically, if risk-on resumes, the dollar will weaken for now. We will see how much this influences USD/JPY. If cross yen gains are large, USD/JPY may remain firm. Currently, cross yen profits are easier to realize, so focusing on those could be worthwhile.
From “Jemori Satoshi's Real Trading Strategy” (Satoshi Jemori) quoted.
With this momentum, will USD/JPY aim for the 113.0 level reached on July 18? It will require careful watching. (Editorial Department)
USD/JPY, 1-hour chart.
× ![]()
