December 06, 2018 08:27: USD/JPY trading strategy [From Mr. Tetsu Emori's newsletter]
From the investment newsletter "Tetsu Emori's Real Trading Strategy" by Tetsu Emori, provided by GogoJungle, here is a small portion from this morning’s distribution. This time, please review the trading strategy for USD/JPY that has been falling from the 113 yen level.
We will maintain a short position on USD/JPY. Although it has rebounded above 113 yen, if it drops below again, the downside risk seems to become quite high. On the other hand, if it cannot break above 113.25 yen, there will be no sense of relief. If Japanese stocks rise, breaking above 113.25 yen may be possible, but first we should assess stock price movements. There is still sufficient room to fall, so optimism should be avoided. If it clearly breaks below 113 yen, we will test 111.90 to 112 yen. If Japanese stocks fall and break below 112 yen, we will test the most important support at 110.50 yen. If this also breaks, the trend would turn toward yen appreciation. In that case, it is unlikely to return to a yen depreciation trend for a while.
'Tetsu Emori's Real Trading Strategy' (Tetsu Emori)quoted.
As of 11:00, USD/JPY has fallen to around 112.80 yen. Will the yen buy continue and move toward yen strength? (Editorial department)
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