Hokutosei's Practical Forex Trading－USD/JPY “Buy dollar yen at 156.10”
FX
■Position changes and signs - June 7, 2024
In the morning in Tokyo, the yen is weak against the dollar. As European time approaches, the yen appreciates across the board and the dollar depreciates. From New York to London, the yen weakened across the board and the dollar strengthened. At the close in New York, the yen weakened across the board and the dollar strengthened.
The daily balance changed to 156.10 dollar/yen buy and moved to overnight position.
The dollar/yen exchange rate was 155.94 after 10:00, with no changes to the Bank of Japan's bond buying operations. In response to Finance Minister Suzuki's comments,
``The entry is restraining.'' After 3:00 PM in Tokyo, the market began to buy yen due to speculation that the Bank of Japan would reduce its bond buying operations. Entering New York, the dollar strengthens across the board due to employment statistics.
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■Current position
6/7－BUY＠156.10
(LAST＠156.76）
Downside support-155.87 Rising confirmation points-156.33
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■Positioning record 2024
6/06－SELL＠155.70
6/05－BUY＠155.80
6/03－SELL＠156.80
5/31－BUY＠157.25
5/30－SELL＠157.00
5/17－BUY＠155.60
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.
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