[Technique Free Public Release] Tonight's USD/JPY Scalping Points 2024/10/16

Toreshingu Ofisu no Tomizaki desu.

【10/16 Dollar-Yen Scalping Points】

Good work everyone! Now let's go with dollar-yen scalping again tonight!

First, from today’s Tokyo session summary.

Currently, the USD/JPY is around 149.20. This morning it started near 149.20, but statements from Bank of Japan Governor Adachi, known for being dovish, suggested possible further rate hikes, sending it down to around 148.85 at one point.

However, that level became Asia’s low, and the yen’s strength was only temporary, and in the end it seems like we’ll see a transition to the overseas session near the morning levels.

So far, shorts have been piling up, so there is a possibility that European and London traders will buy up and trigger stops after this.

But tonight there isn’t any particular material, so I don’t think we’ll see movement toward 150 yet. Probably hovering in the lower 149s…

Now, here are tonight’s USD/JPY scalping points.

● Movement near the London market open around 16:00

● Movement near the New York market open around 22:00 (Dow opens at 22:30)

● Pay attention to earnings announcements from major U.S. companies

Tonight’s 1-minute scalp will aim to profit from movement around market open due to a lack of catalysts.

Also, the 15-minute scalp could present a selling opportunity if there’s a return move from the mid-149s, but chasing into the 148s could be a bit dangerous.

Now, overseas time is about to begin!

【10/16 – Major U.S. Indicators / Events】

● There are no particularly important U.S. indicators or events today

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● Note: U.S. major company earnings to be released

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Outside the U.S., at 27:40 “Europe: remarks by Lagarde, ECB President” are scheduled.

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For USD/JPY scalpers, be careful not to enter just before indicators/events; watch the timing.

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