Strong U.S. retail sales, aiming for a pullback; waiting to long at 149.9
USD/JPY 15-minute chart
Looking at the short term
Right now, we are in a phase where a pullback is forming after the recent rise
It will either reverse around around 150.0 or around 149.9
If it comes from 8:00 to 8:30, I will aim for a long
1-hour chart
The resistance zone against the major rise is a bit lower
In any case, there is a wall at 149.9
Even on the pivot line, the wall is around 149.92
It might be OK to set up a 10-pip take-profit or an IF-DI (stopping) trap here
Around 20 pips, perhaps?
Let’s make some money today as well
Trump rally? Back again
There is growing likelihood that Mr. Trump will become president
facts are supporting the dollar
If Trump's policies continue, with tariffs and tax cuts
the dollar is likely to strengthen, and last night's retail sales
the results were strong
U.S. Retail Sales (excluding autos) Month-over-month (September) [0.1%]
Expected: 0.1%
Actual: 0.5%
U.S. Retail Sales Month-over-month (September) [0.1%]
Expected: 0.3%
Actual: 0.4%
U.S. Philadelphia Fed Manufacturing Index (October) [1.7]
Forecast: 3.0
Actual: 10.3
Because I anticipated some sellers would come in after the retail sales release
I planned to sell if prices rose
This went well, but
ultimately it pulled back and did not reverse the trend, and it rose
As I mentioned at the time of the CPI release
the overall trend for USD/JPY is yen strength, but it could rise to the 151 yen level
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