Hokutosei's Practical Forex Trading：USD/JPY（maintains short position）
■Position changes and signs - May 3rd, 2024
In the morning in Tokyo, the yen appreciated against the dollar. As European time approaches, the yen appreciates across the board and the dollar depreciates. From NY to London fixes, the dollar is weak. The dollar weakened at the close in NY.
The daily balance does not change from the overnight position up to the previous day.
No evidence of Bank of Japan intervention today.
(LAST＠152.87）
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■Current position
5/01－SELL＠156.25
Decline confirmation point-152.57 Return resistance-153.00
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■Positioning record
4/30－BUY＠156.77
4/29－SELL＠156.36
4/05－BUY＠151.63
4/04－SELL＠151.33
4/01－BUY＠151.39
3/27－SELL＠151.35
3/12－BUY＠146.90
3/05－SELL＠150.11
3/04－BUY＠150.43
2/29－SELL＠150.55
2/21－BUY＠150.16
2/20－SELL＠150.01
2/19－BUY＠150.10
2/15－SELL＠150.48
2/07－BUY＠148.03
2/06－SELL＠148.44
2/02－BUY＠146.70
1/31－SELL＠147.41
1/30－BUY＠147.60
1/29－SELL＠147.71
1/25－BUY＠147.65
1/24－SELL＠147.95
1/15－BUY＠145.11
1/12－SELL＠145.35
1/9－BUY＠144.45
1/8－SELL＠144.63
1/2－BUY＠141.50
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■Trading method
When rising, use the previous day's true range value of 0.618...
The price subtracted from the previous day's high price supports the downside.
The price added to the previous day's low price is the confirmation point for resuming the rise.
When falling, the previous day's true range value of 0.618...
The price subtracted from the previous day's high price is the confirmation point for the resumption of decline.
The price added to the previous day's low is the resistance to reversal.
When rising, push the downward price support to rise confirmation point to the formation zone and take a buying stance
At the time of a decline, move the decline restart confirmation point to the return resistance to the return formation zone and sell stance
If there is an anti-trend movement that exceeds the reversal resistance and downside support, there will be a counter buy and sell.
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