Hokutosei's Practical Forex Trading－USD/JPY ”Approaching the return high of 156.28 at the time of intervention on May 2nd”
FX
■Position changes and signs - May 8th, 2024
In the morning in Tokyo, the yen weakened across the board and the dollar strengthened. As European time approaches, the yen weakens across the board and the dollar strengthens. From NY to London fixes, the yen is weak across the board and the dollar is weak. At the close in New York, the yen weakened across the board and the dollar strengthened (from Europe, the yen weakened across the board and the dollar weakened).
Bank of Japan Governor Ueda:
”Rapid and unilateral depreciation of the yen is negative for the Japanese economy and is not very desirable.''
“It is important for exchange rates to move in line with fundamentals.”
The return high at the time of intervention on May 2nd was 156.28.
(LAST＠155.61）
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■Current position
5/6－BUY＠153.40
Downside support-155.02 Rising confirmation points-155.27
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■Positioning record
5/01－SELL＠156.25
4/30－BUY＠156.77
4/29－SELL＠156.36
4/05－BUY＠151.63
4/04－SELL＠151.33
4/01－BUY＠151.39
3/27－SELL＠151.35
3/12－BUY＠146.90
3/05－SELL＠150.11
3/04－BUY＠150.43
2/29－SELL＠150.55
2/21－BUY＠150.16
2/20－SELL＠150.01
2/19－BUY＠150.10
2/15－SELL＠150.48
2/07－BUY＠148.03
2/06－SELL＠148.44
2/02－BUY＠146.70
1/31－SELL＠147.41
1/30－BUY＠147.60
1/29－SELL＠147.71
1/25－BUY＠147.65
1/24－SELL＠147.95
1/15－BUY＠145.11
1/12－SELL＠145.35
1/09－BUY＠144.45
1/08－SELL＠144.63
1/02－BUY＠141.50
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■Trading method
[Basic concept]
When rising, use the previous day's true range value of 0.618...
The price subtracted from the previous day's high price supports the downside.
The price added to the previous day's low price is the confirmation point for resuming the rise.
When falling, the previous day's true range value of 0.618...
The price subtracted from the previous day's high price is the confirmation point for the resumption of decline.
The price added to the previous day's low is the resistance to reversal.
[Buying and selling policy]
When rising, push the downward price support to rise confirmation point to the formation zone and take a buying stance.
At the time of a decline, move the decline restart confirmation point to the return resistance to the return formation zone and sell stance.
If there is an anti-trend movement that exceeds the reversal resistance and downside support, there will be a counter buy and sell.
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