[Technique freely available] Points for tonight's USD/JPY scalping 2024/10/24

This is Tomizaki from Trading Office.

【10/24 Dollar/Yen Scalp Points】

Good work today! Alright, let's do some USD/JPY scalping again this evening!

First, the overview of Tokyo hours for today.

Currently, USD/JPY is around 152.20. This morning it started around 152.65, but during Tokyo hours it softened somewhat due to successive cautionary remarks, starting with Finance Minister Suzuki (Kato) among others.

But the upward factor for USD/JPY is not Yen-led but Dollar-led, and a trend of dollar buying ahead of the U.S. presidential election is expected to continue, so it does not seem to be entering a correction phase.

From around the 152 yen level, I think there will be another wave of dollar buying as a dip, but after yesterday's rally, most market shorts should be stopped out, so there probably isn't enough power to push into the 153 yen area...

In short, it looks heavy just before 153 yen, and around 152 yen seems solid.

From the morning level, we are likely to see about a 45-pip drop as we hand over to overseas trading.

Now, here are the points for USD/JPY scalping this evening.

● Movements near the London market open around 16:00

● Movements after the US initial jobless claims release at 21:30

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

● Movements after the US manufacturing PMI and US services PMI releases at 22:45

● Movements after the US new home sales release at 23:00

Be cautious of statements from US officials

For tonight's 1-minute scalp, opportunities seem to arise from the market open and after the 21:30 US initial jobless claims release.

Also, during the Dow open around 22:30, I will not take positions and will wait for the 22:45 PMI releases before entering.

Preconceived image is the key to success. (Probably...)

For a 15-minute scalp, I plan to enter if I can sell in the late 152 yen area. However, since it does not seem to break into a deeper correction, avoid heavy chasing.

Now, the overseas session is about to begin!

【10/24 Major US Indicators & Events】

● 21:30 US Initial Jobless Claims

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● 21:45 US Hamrock: Speech by Cleveland Fed President (with voting rights)

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● 22:45 US Manufacturing PMI [Flash]

● 22:45 US Services PMI [Flash]

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● 23:00 US New Home Sales

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Outside of the US, there is a rush of PMI releases across European countries.

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For USD/JPY scalpers, please do not enter right before indicators/events; check the timing carefully.

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