The dollar/yen pair remains in a buy-the-dip stance, waiting for a break below 157 yen
Dollar/Yen 15-minute chart
The bias is bullish, but
we want a pullback
looking at the 4-hour chart
this is the image
a rise after forming a descending flag
when viewed on the 1-hour chart
there is a wall around 157.0
whether to break this and push a bit more
the week of Christmas
We have entered the week of Christmas.
there are many holidays in overseas markets,
there are times when trading is not possible.
we should be careful about spreads
tomorrow, the 25th, is Christmas. Most markets outside Japan are closed.
for the market as well, from Japan time evening
until the morning of the 26th, effectively
trading will be unavailable, so be careful.
the 26th is Boxing Day,
and many Christian countries, including the UK, are closed.
therefore, the market is expected to fully resume on
the 27th (Fri) or the following week?
in this context, last week there was a dovish
remarks by Governor Ueda that led to a yen depreciation,
and at the 27th (Fri) the Bank of Japan Policy Meeting
“main opinions” will be released.
there is a possibility of mild yen strengthening.
also, as I mentioned yesterday
on the 25th (Wed) Governor Ueda will give a speech.
Even across the year, the market's most ill-timed moments for speeches are
rarely at times where a hawkish tone could cause some reaction,
and this time might elicit a reaction, unlike last week.
while hoping for Governor Ueda’s Christmas present
the dollar/yen remains in a pullback-buy stance.
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