October 17, 2018 08:28: Dollar/Yen trading strategy [From Mr. Satoru Emori's newsletter]
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From the real-time trading newsletter "Tetsu Emori's Real Trading Strategy" by Tetsu Emori provided by GogoJungle, here is a small excerpt from this morning's distribution. This time, please take a look at the USD/JPY trading strategy as the dollar buy and yen sell flow strengthened against the backdrop of rising U.S. stocks.
We will take a new long position on USD/JPY. Since stock prices have stabilized and there is substantial room for upside, we will hold a long position with the expectation of aiming for 113 yen, and monitor the situation. As a result, it stopped declining around 111.80 yen, but the current FX market has a side influenced by the movement of U.S. stocks. A settling of U.S. stocks and U.S. long-term interest rates could prompt a rise in USD/JPY.
From “Tetsu Emori's Real Trading Strategy” (Tetsu Emori)引用。
Today, the Federal Open Market Committee (FOMC) minutes will be released. Will this serve as a catalyst for further dollar buying? (Editorial staff)
USD/JPY, 1-hour chart.
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