After the Trump rally heated up, market eyes on the USD/JPY slipping below 151.5
Dollar/Yen 15-minute chart
It’s about which wall 152.850 or 152.375 will break in the short term
Looking at the 4-hour chart, wouldn’t it be a range around 151.5 and around 153.8?
If 151.5 is decisively broken with momentum
there is a possibility of a downtrend
This week there are economic indicators after big events
that might break the range, don’t you think?
This week’s economic indicators
Trump Trade Reversal
Mr. Trump has been re-elected as president,
and both houses will be controlled by the Republican Party.
The situation is set for Trump’s economic policies with large-scale spending to be realized.
U.S. long-term interest rates rose from around 3.6% in mid-September
and continued to rise, reaching 4.45% on the day of the presidential election
The rise of 0.85 percentage points is quite substantial.
With Trump's victory decided,
the market began moving with “buy the rumor, sell the fact.”
Fact selling started to move the market.
U.S. 10-year Treasury yield hourly
Considering the dollar-yen from around 139.58 yen lows,
it has risen about 15 yen. Many traders
are worried about U.S. rate hikes,
and believe further dollar-yen appreciation is inevitable,
so a large correction would not be surprising
The Trump administration will actually begin in the latter half of next January.
Until then, the market might
drift and adjust
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