November 14, 2018 08:29: Dollars-Yen Trade Strategy [From Mr. Teru Morimoto's Newsletter]
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From the investment newsletter "Real Trading Strategy" by Satoshi Emori, provided by GogoJungle, here is a small excerpt from this morning’s distribution. This time, please take a look at the trading strategy for the dollar/yen that has been moving in the high 113 yen range with little movement.
We will maintain a long position on the USD/JPY. If it falls below 113.85, the short-term trend may break, so we will consider how to respond at that point. The current USD/JPY staying in the high range is due to the euro being weak and the dollar being bought as a safe asset. Some analysts also cite the strength of the US economy and interest rate levels as reasons, but we view that as a mistaken perspective. For now, it is still risk-off. The dollar is being bought as US rates decline. This is the kind of scene you see in a risk-off environment. It was the same during the Lehman Brothers crisis. On the other hand, at that time the yen was also bought, and the yen appreciated. However, it is not the case yet now. If the yen starts to be bought, that would be quite dangerous.
From “Real Trading Strategy” by Satoshi Emori (Emori Satoshi)
According to Emori, the upside point for USD/JPY is 114.54 yen, and at this stage, breaking above it is considered unlikely. The current USD/JPY also requires careful monitoring in conjunction with movements in the stock market. (Editorial staff)
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