Hokutosei's Practical Forex Trading－USD/JPY“Reacting to the rise in interest rates on Japanese 2-year government bonds”

■Position changes and signs - May 21st 2024

In the morning in Tokyo, the yen weakened across the board and the dollar strengthened. As European time approaches, the dollar weakens. From NY to London fixes, the yen appreciates against the dollar. At the close in NY, the yen appreciated against the dollar.

In New York, initial dollar buying reached its limit at a high of 156.43, and the dollar declined and the yen tried to appreciate, but rebounded from 155.84. It is sandwiched between selling and buying, and the upper and lower limits are limited.

Reacting to the rise in interest rates on Japanese 2-year government bonds.

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■Current position

5/17－BUY＠155.60

(LAST＠156.19）

Downside support-156.11　Rising confirmation points-156.28

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■Positioning record

5/15－SELL＠156.30

5/06－BUY＠153.40

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.