Hokutosei's Practical Forex Trading－USD/JPY “Over 156 again,US Treasury Secretary warns against currency intervention”
FX
■Position changes and signs - May 13th, 2024
In the morning in Tokyo, the yen is weak against the dollar. As European time approaches, the yen weakens and the dollar weakens. From NY to London fixes, the dollar is weak and the yen is weak. At the close in New York, the yen weakened across the board and the dollar weakened.
For the daily balance, there is no change in the overnight position up to the previous day.
The dollar yen fell to a low of 155.50 as the Bank of Japan reduced its government bond purchases. However, the direction of the yen's appreciation is limited. New York time (2330:00 Tokyo), the US Treasury Secretary's statement against currency intervention led to a short yen, exceeding 156 yen.
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■Current position
5/6－BUY＠153.40
(LAST＠156.21）
Decline confirmation point-152.57 Return resistance-153.00
Downside support-155.82 Rising confirmation points-155.98
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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
1/9－BUY＠144.45
1/8－SELL＠144.63
1/2－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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