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While the Japanese stock market took a day off, the value of the yen plummeted, causing the dollar-yen exchange rate to surge. However, after the surge, there was another sharp decline, which is speculated to have been influenced by intervention from Japanese authorities. As the details are not official yet, uncertainty persists, but it seems to have been a good opportunity as the range between 160 and 162 is considered an important resistance level by Japanese authorities.
- The FOMC meeting will be held from April 30th.
- The minutes of the Japanese monetary policy meeting will be released on May 2nd.
- US employment figures will be announced on May 3rd.
- The Japanese stock market will be closed on May 3rd for Constitution Day.
USDJPY surged, forming prices above the upper trendline for a while due to the surge, but then retreated to the 156 line. The current movement seems to be a false breakout, and if the next candle forms below the 159 line, it indicates a downward trend. Therefore, we expect a short-term downward trend, and the current low point is likely around the 154 line.
In short, after the candle that broke through the 160 line, if the next candle forms below the 159 line, it indicates a short-term decline to the 154 line.
However, there are variables. Due to this week's FOMC meeting, there is a possibility of the dollar strengthening, and Japanese authorities may also intervene more actively.
If there are unexpected movements, we will adjust our strategy accordingly.
Please share your personal opinions in the comments. We ask for your support through boosters and subscriptions.
While the Japanese stock market took a day off, the value of the yen plummeted, causing the dollar-yen exchange rate to surge. However, after the surge, there was another sharp decline, which is speculated to have been influenced by intervention from Japanese authorities. As the details are not official yet, uncertainty persists, but it seems to have been a good opportunity as the range between 160 and 162 is considered an important resistance level by Japanese authorities.
- The FOMC meeting will be held from April 30th.
- The minutes of the Japanese monetary policy meeting will be released on May 2nd.
- US employment figures will be announced on May 3rd.
- The Japanese stock market will be closed on May 3rd for Constitution Day.
USDJPY surged, forming prices above the upper trendline for a while due to the surge, but then retreated to the 156 line. The current movement seems to be a false breakout, and if the next candle forms below the 159 line, it indicates a downward trend. Therefore, we expect a short-term downward trend, and the current low point is likely around the 154 line.
In short, after the candle that broke through the 160 line, if the next candle forms below the 159 line, it indicates a short-term decline to the 154 line.
However, there are variables. Due to this week's FOMC meeting, there is a possibility of the dollar strengthening, and Japanese authorities may also intervene more actively.
If there are unexpected movements, we will adjust our strategy accordingly.