Shall we set up a long position aiming for after Thanksgiving?
USD/JPY hourly chart
Today also, upside movement is expected to be heavy
First, will it break through 151.6 and rise?
However, I would like to look to short near 151.6
A review of yesterday
I wondered how far it would drop
On the daily chart, it bounced at the red 200 MA line
On the pivot line, S4 was broken and it fell
It was a strong downtrend
Today’s pivot line is
If it breaks S1, 150.0 becomes visible
Will it come this far?
Safe-haven buying of the yen progresses
Until now, with the Trump trade
profit-taking of accumulated positions is
underway. In particular, with the appointment of
Mr. Vestant as U.S. Treasury Secretary,
the concerns about fiscal expansion leading to a rise in U.S. long-term yields have lessened, and rather, with a fiscal hawk like
Mr. Vestant as Treasury Secretary, there is a belief that
U.S. long-term yields will fall, hence
dollar selling occurs when U.S. yields fall.
Of course, Thanksgiving is a special
period, which is one contributing factor.
Today’s Thanksgiving market tends to lose extreme
liquidity.
Many traders take extended holidays,
making position adjustments easier.
Today, should I skip trading,
or anticipate a buying rebound after the break?
Wouldn’t it be interesting to lightly initiate long positions?
Many traders’ perspectives are
likely shifting after Thanksgiving.
Will it continue to be Trump trade,
or Vestant trade?
There are already talks about tariffs on Canada and Mexico.
With fundamentals supporting a stronger dollar also observed
we are watching for a timing to rise after the break next week.
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