Dollar-Yen near-term target reached, adjustment selling begins! Unexpected risk-off market as both Japanese and U.S. stock prices plunge...

In the previous streaming article, I commented that the immediate upside target for USD/JPY was close, but

after hitting a high in early October, U.S. long-term interest rates rose and U.S. stocks stayed near highs, signaling

a correction that caused USD/JPY to turn lower, moving in line with the stock market after being overbought.



Regarding USD/JPY, it’s time to close long positions once and/or switch to a reverse (reverse position).

● From the previous market compass, Ask Indicator Strategy delivery article
“A short-term high break is within expectations! Be cautious of upper wicks on daily and weekly charts!”


Additionally, from last week’s employment data, the unemployment rate fell and the trend of rising U.S. long-term yields and a decline in U.S. stocks continued

into yesterday, with U.S. equities extending their declines

While concerns about the long-term U.S.-China trade frictions are also being priced in, the Dow Jones industrial average is aiming for its all-time high

as the movements toward the upcoming midterm elections may have begun, suggesting a frantic market toward year-end

could occur.



● From blog posts
“If a rise occurs in early October, be careful”

● From blog posts
“USD/JPY did not react to the rapid rise in U.S. yields”



Furthermore, due to European concerns, the euro exchange rate also stalled and, against the yen, returned to the 132 yen area

but from the near-term range’s upper limit it stalled and dropped below 130, returning to this year’s low range

with a possibility of expanding the downside.



Click to enlarge

Although it broke above 130, selling signals re-lit and it fell below 130


In the shadow trades, one can catch the reversal timing. The chart is a 4-hour swing trade.
Combining with MAX, the buy/sell logic differs, but the buy/sell points are as you see.



Similarly, the pound/yen is also fluctuating wildly due to Brexit concerns, but traders are starting to anticipate a near-term rebound high,

and if it breaks the near-term low, the downside could widen.


● From market compass, Ask Indicator Strategy delivery article
“GBP/JPY: The week to seek a reversal timing”


● From blog posts
“GBP/JPY’s near-term rebound high around 150”


Originally, at the beginning of this year, the market trend was such that it would help forecast the year’s movements

so it is within expectations that U.S. stocks may widen their declines toward year-end, but

the Nikkei Average has fallen below 23,000,

and at present USD/JPY remains in a corrective phase, but if risk-off persists, it could break below 110

and in such scenarios, the key will be whether buyers can support it.



● From blog posts
Dow: Is a double top forming? Be wary of a full-fledged yen buy!


The market trend toward next month’s U.S. midterms is expected to continue,

and the movements toward year-end will be important.



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