November 08, 2018 08:35:00: USD/JPY trading strategy [From Mr. Tetsu Emori's newsletter]
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From the investment newsletter “Tetsuyaemori’s Real Trading Strategy” by Tetsuyae Morito provided by GogoJungle, here is a small excerpt from this morning. This time, please take a look at the dollar-yen trading strategy after the U.S. midterm elections.
We will maintain long positions in USD/JPY. Following the results of the U.S. midterm elections, U.S. stocks rose and USD/JPY climbed. With one source of uncertainty removed, USD/JPY is likely to go higher. Japanese stocks are also firm, and if stock prices stay stable, it can be said that USD/JPY is more likely to rise now. The key will be whether it breaks above 114.54 yen.
President Trump may also intensify his offensive again following the midterm election results. He has already implemented many of his campaign promises from the presidential election, and the focus may turn to maintaining the administration.
Until now, USD/JPY has been relatively stable. This was due to safe-haven dollar buying accompanying the decline in European currencies. If the theme is Europe, yen appreciation is unlikely. However, when the theme shifts to the United States, yen appreciation risk increases. Trade issues remain, and the situation remains uncertain, but for now, let's gauge the upside with a long position.
From “Tetsuya Morimoto’s Real Trading Strategy” by Tetsuya Morimoto.
USD/JPY has been rising from last night New York time to this morning Tokyo time. 113.900 around seems to be the next milestone, but will it rise sharply to that line? (Editorial staff)
USD/JPY, daily chart.TradingView USDJPY chart
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