As expected, it’s a USD/JPY position adjustment plus long-side hunting.
Good morning
This is the scenario as of 5 a.m.
This is the USD/JPY 4-hour chart
It was pushed up by US retail sales, wasn’t it?
Still, looking at the 4-hour chart, it isn’t that large
Around the 0.236 Fibonacci level
We can still imagine lower levels, but
for now, it’s a retracement phase
On the 1-hour chart
The 0.382 Fibonacci retracement was achieved while I was writing this
From the 15-minute chart, it looked like this, though…
The dollar is strong, isn’t it?
When I look at my MT4 5-minute chart
Huh—could this be
The blue 1-hour MA is below,
If we can break through here
a major bottom long?
I’ve explained the major bottom long here
https://www.gogojungle.co.jp/tools/ebooks/52653?via=users_products
This is the image
I wonder what will happen?
Right now, the 1-hour MA is holding the top
November US retail sales showed solid growth
Notably the increases in autos and online shopping,
while other sectors were mixed in strength
【US】 Retail Sales (ex-auto) MoM (November) [0.1%]
Forecast: 0.4%
Actual: 0.2%
【US】 Retail Sales MoM (November) [0.4%]
Forecast: 0.5%
Actual: 0.7%
With this result, will there be a fall of about 1 yen or more?
FOMC, awaiting BOJ
FOMC, and the Bank of Japan policy meeting
and other major events will continue to follow
and we are in a waiting state for those events.
The market isn’t moving much
In the USD/JPY case, since the market was
short, gradually
the short-cover pushed the market higher
Now it’s the turn for long positions to take profits
to enter the phase.
In particular, with no catalysts, it’s just
pushing to wipe out short-term traders’ positions
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