USD/JPY is pulling back now to 152.516; aiming for a breakout long.
Dollar/Yen 15-minute chart
Where will it rebound, I wonder
I woke up at 3 o'clock and was thinking about a strategy, but
this dipped below 152 yen at the time I was writing this
5-minute chart
A downtrend with lower highs and lower lows
The wall around 152.0 seems thick
Many traders are watching the near-term high of 152.516
If this breaks
once traders see a trend reversal, they go long
It will rise, though short-term
The sentiment will shift to, “The yen is weakening after all,”
and we will wait for it to show up on the chart
Otto
4:20 Dollar/Yen surges
“Go on!”
That was the longer's inner voice
I myself will target a short for scalping
(Got 5 pips from this)
Today, in the morning, I have a heart rehabilitation, so the Tokyo-Nickel strategy is
I’ll go with a trap
Somehow it feels like it might go up…
Governor Ueda seals away “temporal flexibility” and moves toward a stronger yen
Recently, assuming President Trump’s inauguration
the “Trump Trade” has progressed,
and US interest rate hikes led to a strong dollar environment
In particular, it was said that there was “time to raise rates,”
and relative to the yen which had postponed early tightening
the dollar strengthened,
but a dollar rise and yen weakness would boost Japan’s inflation rate,
so at the Bank of Japan policy meeting, Governor Ueda
sealed away the term “temporal flexibility,”
and hinted that a rate hike could be possible depending on the yen’s depreciation
Some market participants took that to heart
and bought yen, but would the Bank of Japan really be able to
raise rates?
With political turmoil and as a countermeasure against inflation
the Democratic Party for the People proposing tax cuts
in a situation where they hold the casting vote,
the BOJ’s rate hikes may face limitations?
In the near term, yen buying has resumed,
but I think the yen is inherently weak.
There may not be much room for rate hikes?
If Mr. Trump really becomes president,
it would be difficult to raise rates much as a countermeasure to US rate rises
The yen will likely stay weak for a while
Right now, it is a pullback
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