Attention on the election results: USD/JPY on the downside temporarily? Let's wait for the Bank of Japan meeting
Dollar/Yen 1-hour chart
We also expect a breakout and retrace to fill the gap from the morning gap-up, followed by another rise
Stock losses after the Liberal Democratic Party's landslide loss were expected, and the dollar/yen would fall, but
Although there has been a broad decline in stocks reflecting the large defeats
the dollar/yen
is rising on expectations from foreign investors that the BOJ will have difficulty raising rates due to political instability
and the Nikkei and dollar/yen have become inversely correlated
will that continue today as well?
I want to judge based on movements after 9 o'clock
Movements caused by the election tend to retract
to return to the usual pattern of Nikkei declines and dollar/yen declines
What I’m watching closely here is whether the market has priced in the election results,
and whether we will see “buy on rumors, sell on facts” behavior
There still seems to be buying interest, so if it dips I would like to pick it up
Before that, I placed light short orders aiming to fill the gap
Particularly watching London and New York time moves; will the direction become clear?
This week is packed with events, so there could be sharp fluctuations
Fundamentals affect the long-term chart, so I will anticipate the larger trend after the results
Before that, I’d also like to trade short-term around key indicators
Dollar/Yen monthly chart
There is a support/resistance around 152 yen
This month, will we break through this level and rise further?
On the daily chart,
whether it drops to 150 yen and breaks through; the 150 yen level looks to be a strong barrier
First, I will wait for the BOJ meeting
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