Election schedule for the presidential race: Will Trump’s trade rebound accelerate? Also expecting around 148 yen.

This is the USD/JPY 4-hour chart
It can also be seen as a descending flag forming

If there is a rollback of Trump trades
We may have to prepare for the 148 yen level, and in some cases even the 146 yen level

This morning there could be a moment when it falls below 151 yen

Technically, a breakout above the flag is also possible,
but fundamentals outweigh the technicals, so everything depends on the presidential election

From the hourly chart, it looks like this


This is the wall seen on the daily chart
The 0.382 Fibonacci pullback is around 148.48



Waiting for the presidential election results
In Wall Street, after predicting a Trump victory, small-cap stocks were bought,
and bets on rising rates due to inflation accelerations accelerated.
Cryptocurrencies also rose.

However, as recent polls still show a tight race,
the momentum of such trades has softened

We are waiting for the U.S. presidential election results.
If early, the results could be known this afternoon Japan time,

but there is a possibility that the results will become tangled,

and may not be decided immediately

Right before the results, there is talk of a Red State

(states with a strong tendency for Republicans) where a Harris lead appeared in the Iowa poll,

causing moves to unwind Trump trades


Large fluctuations are expected

The election in Congress is also important; it seems almost certain that Republicans will gain a majority in the Senate, but

if Democrats take control of the House, policy advancement will stall,

so beware of a market plunge.

We have prepared for that scenario

Not trading is best, after all

But I still find myself trading in small lots