Employment statistics before: Is the USD/JPY in the 149.608～150.72 range?
This is the USD/JPY 1-hour chart today
Anticipating the movement inside the Purple Gene ahead of the employment statistics
First, a triangular consolidation is forming,
and which direction it will breakout
If it breaks to the downside, it could fall sharply
It might even break through 149.624
Above, the Fibonacci 38.2% and the black 25 MA line overlap, making a thick wall
Even by yesterday's pivot line,
it was between S1 and R1
Today149.608～150.728is narrowing
There is also speculation that the employment data could be strong
There may be upward movement before the release, or attempts to sell
If the Bank of Japan raises rates as planned, the yen would weaken, so December
Otherwise, the market is beginning to think January
So now, it may be better to go short after it rises
Therefore, if the employment data rises, I will aggressively target shorts
I think it could rise by 50–100 pips
Nakamura: “I am not against rate hikes”
The Jiji Press and MNI reported that at the December meeting,
a rate hike would be delayed,
and the USD/JPY and cross rates were all bought back in one swoop
With the hawkish Nakamura’s speech
they expect that it will be a hawkish content that does not oppose rate hikes
and thus a yen selling and dollar buying sentiment
led to a yen-selling, dollar-buying lead
“I am not against rate hikes”
in the Q&A, and temporarily
the USD/JPY plunged to around 149.65
Whether the Bank of Japan raises rates in December,
or in January, is gradually becoming ambiguous
Therefore, if the yen had been weakening, they would choose to raise rates,
but if it is moving toward stronger yen,
they may refrain from raising rates
The upside limit is reached, and the downside limit is as well. In conclusion,
it would be an uninteresting outcome, but it is the usual pattern
not to reach the level of the BoJ chief's FOMC,
and with limited yen depreciation, selling on rallies is probably better
so targeting returns from selling on rallies is best
given the yen’s limits
which makes selling on rallies favorable
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