October 25, 2018 08:33: Dollar/Yen Trade Strategy [From Mr. Tetsu Emori's newsletter]
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From the investment email newsletter "Tetsu Emori's Real Trading Strategy" by Tetsu Emori, provided by GogoJungle, a small portion from this morning's delivery is introduced. This time, please view the trading strategy for USD/JPY that is falling due to the large drop in the Nikkei stock average.
We will maintain a short position on USD/JPY. If it falls below 111.95, we expect further downside acceleration. The market continues to move toward risk aversion. The dollar itself is being bought as a safe asset, but the yen is also bought as a safe asset, so, as a result, USD/JPY tends to move less than other currencies.
Stock prices are notably unstable. USD/JPY is holding steady, but around 112.85 it remains heavy. If it breaks below 111.95, it will likely drop to 111.20. If it falls further, a decline to 110.50 is anticipated.
If that happens, the probability of a sharp drop becomes considerably high. Of course, at that time stock prices will be even lower, and the movement is expected to be quite trend-following. Market sentiment is extremely unstable right now. Market trends are unclear, and external factors are dominating the market. Easy optimism is not advisable. (As in the original)
From “Tetsu Emori's Real Trading Strategy” (Tetsu Emori)引用。
From a chart perspective, I’m watching whether it will break below the line of 111.950, which has acted as support several times. (Editorial staff)
USD/JPY, hourly chart.USD/JPY chart by TradingView
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