October 31, 2018 05:12: Short-term scenarios going forward [From Mr. Rikio Shima's newsletter]
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On Friday, 11/2 this week, the U.S. October employment statistics will be released. Another notable upcoming event is the U.S. midterm elections on Tuesday, 11/6. Regarding these two events, which could move the currency market significantly, Shima Rikio writes the following in the investment newsletter "Shima Rikio's Real-Time Practical Trades" offered by GogoJungle.
By the way, looking at the schedule for the future,
Friday: U.S. employment statistics
Tuesday: U.S. midterm elections
There are two major events, but the U.S. employment statistics have not been considered very important lately. The U.S. midterm elections are likely to be the bigger event.
Personally, the U.S. midterm elections will be decisive. The forecast is that the Senate will be Republican and the House of Representatives will be Democratic, but a scenario where both chambers are controlled by the Republicans is also a strong possibility. In that case, the dollar could strengthen in the short term. If the Democratic Party dominates the House, it will slow down Mr. Trump’s aggressive policy execution. That would be dollar-selling, but it may not move much.
Because there is an event, many traders may hold back, but if anything happens, there is a possibility of continued yen depreciation. It may differ a little from instinct, but a rise in stock prices could support the dollar.
『Shima Rikio's Real-Time Practical Trades』（Shima Rikio）Quoted from.
In the long term, the USD/JPY has turned upward from the March low earlier this year and is in an uptrend. It remains to be seen whether next week’s U.S. midterm elections will change this trend. (Editorial staff)
USD/JPY daily chart.TradingView chart of USDJPY
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