November 26, 2018 08:15:00: USD/JPY trading strategy [From Mr. Satoshi Emori's newsletter]
From the investment newsletter “Tetsu Emori's Real Trading Strategy” by Tetsu Emori, provided by GogoJungle, here is a small excerpt from this morning's delivery. This time, please take a look at the trading strategy for USD/JPY around the 112 yen level in the upper-112s.
We will maintain a short position on USD/JPY. This week, attention is likely to center on developments from the US-China summit. If measures such as postponing tariffs are decided, stock prices could recover, U.S. Treasuries may be sold and yields could rise, potentially leading to USD strength against the yen. However, there is too much risk in betting on such a scenario. For now, it is prudent to focus on the near-term trend. That said, if we break below 112.80, downside risk would increase. In that case, the decline could reach down to 111.70. Also, as Japanese stocks tend to weaken the yen when they fall, we should continue to monitor stock price movements and respond accordingly.
“Tetsu Emori's Real Trading Strategy” (Tetsu Emori)quoted from.
USD/JPY is rising sharply at this moment. It will be interesting to see whether the U.S. dollar continues to be bought. (Editorial staff)
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