October 04, 2018 08:34: Dollar/Yen trade strategy [From Mr. Satoshi Emori's newsletter]
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From the investment newsletter "The Real Trading Strategy by Tetsu Emori" by Tetsu Emori, provided by GogoJungle, here is a small excerpt from this morning’s distribution. This time, due to the rise in long-term U.S. interest rates, please view the USD/JPY trading strategy that touched the mid-114 yen range.
We will maintain our long USD/JPY. It is rising with the sharp rise in U.S. rates. In this situation, it is common to target 115 yen. For now, there have been no yen-selling restraint comments from the Trump administration, so the yen-weak trend continues. This is because Prime Minister Abe is negotiating well with President Trump. While many market participants look at the widening U.S.-Japan interest rate differential as the driver, the underlying reason is different. If you don’t understand this, you will never correctly grasp the essence of the market structure. When things go too far, keep an eye out for any statements from the Trump administration. In the short term, consider closing out below 114.05 yen.
Quoted from “The Real Trading Strategy by Tetsu Emori” (Tetsu Emori).
This weekend, the U.S. employment statistics will be released. While there is a possibility that dollar buying could accelerate, profit-taking selling may also advance, suggesting potential for a tumultuous development. (Editorial staff)
USD/JPY, 1-hour chart.
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