October 29, 2018 08:33: Dollar/Yen trade strategy [From Mr. Tetsu Emori's newsletter]
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From the investment newsletter “Tetsu Emori’s Real Trading Strategy” by Tetsu Emori, provided by GogoJungle, here is a small portion from this morning’s dispatch. This time, please take a look at the trading strategy for USD/JPY that fell to the upper 111 yen range.
We will continue to short USD/JPY. We will buy back if it rises above 112.20. There is risk-averse demand for yen buying. If stock prices do not stop falling, USD/JPY will not stop declining. That said, stock declines are also starting to look excessive, so in the short term there may be a rebound. In that case, USD/JPY could temporarily rise as well. However, we do not expect that move to be long-term. The current stock market is at an extremely important crossroads. The near-term moves are highly uncertain, and we must first gauge market reactions. After confirming that, USD/JPY will also fluctuate. However, 111.20 has been held by last week’s decline, and the long-term trend remains intact. Therefore, there remains a possibility of a short-term rebound. Right now, how long a trading horizon to use is extremely important. We cannot hold positions for a long time. Flexibility is essential.
From “Tetsu Emori’s Real Trading Strategy” (Tetsu Emori) quoted.
According to Emori, the current foreign exchange market moves in response to stock prices. For the time being, in addition to stock trends, attention should also be paid to European affairs. (Editorial staff)
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