“Key Insights and Strategies for Trading Dollar/Yen Amid Economic Shifts”[embed]https://www.youtube.com/watch?v=ljvIrzyqqJE[/embed][embed]https://www.youtube.com/watch?v=0qqQ67w4L4E[/embed]

We have summarized the trading scenarios and insights that Forex individual investors should have inputted in advance when day trading “USD/JPY”.

Written by: Uehara Shuhei, General Research Institute, Gaitame.com
X(Twitter) :

Today’s USD/JPY – Environment Recognition through Technical Analysis (Summary of Video Points)

1. Result of the LDP Presidential Election:
  – Ishiba won in the runoff election
  – Following the result, yen buying and dollar selling progressed

2. Current Market Situation:
  – After rising to 146.50 yen, fell to around 142.70 yen
  – Presence of heavy upper shadows in bearish candlestick formations signifies resistance at higher levels

3. Technical Analysis:
  – Downward trend continues
  – Moving averages are functioning as support
  – 142 yen is an important support line

4. Points of Interest:
  – Whether it breaks below 142 yen
  – If it breaks below, the next target is around 139 yen
  – Retracement target is 144 yen (around Fibonacci 38.2% retracement)

5. Future Developments:
  – Confirmation of support at 142 yen
  – Confirmation of resistance at 144 yen
  – Possibility of resuming the downward trend if it breaks below 142 yen

6. Upcoming Events to Watch:
  – 6 PM: Press conference for the new president
  – New York Market: Announcement of PCE Deflator
  – Next week: U.S. employment statistics, ISM manufacturing index, etc.

7. Trading Precautions:
  – High potential for short-term fluctuations
  – 142 yen and 144 yen are key levels
  – Pay attention to next week’s economic indicators

Overall, following Ishiba’s victory, the yen is moving towards appreciation, but further fluctuations are expected depending on upcoming events and economic indicators. It is essential to keep an eye on the support at 142 yen and resistance at 144 yen, while paying attention to the PCE deflator and next week’s economic indicators. In the short term, the downward trend is likely to continue, but the reaction at 142 yen will be crucial.

‘Latest Explanation of the USD/JPY Market’

‘Live Stream from Monday to Thursday at 9 PM’ – What will happen to USD/JPY with the new president? U.S. PCE & End-of-Month Market | Clear Concerns for FX Beginners

Results of Economic Indicators and Events

For the latest information on major economic indicators and important event results, please check the “Economic Indicator Calendar” on the Gaitame.com website.

Economic Indicator Calendar

Notification: Live Explanation for FX Beginners from 12 PM

Researchers from the Foreign Exchange Market research division of Gaitame.com General Research Institute are conducting live streams every weekday from around 12 PM for FX beginners. They explain the previous day’s review, today’s market points, etc., in an easy-to-understand manner. You can watch it on YouTube’s “Gaitame.com Official FX Beginner Channel”.

Here is the FX live explanation channel from 12 PM

Uehara Shuhei
Researcher, General Research Institute, Gaitame.com
Certified Technical Analyst (CFTe) of the International Federation of Technical Analysts
Entered the financial industry in 2015, engaged in customer support, and also active as a financial seminar lecturer. Joined Gaitame.com General Research Institute in February 2022. Utilizing his experience and knowledge, he energetically provides information to individual FX investors. He appears frequently, including regular commentary on the economic program broadcasting station “Stock Voice” and Nippon Broadcasting System’s “Shinbo Jiro Zoom, Should I Say That!” He is currently writing a series on the outlook for USD/JPY and EUR/JPY in the financial magazine “Diamond ZAi”.

● Disclaimer
We take great care in providing information on this site, but we do not guarantee its accuracy. Additionally, this service is designed to provide information as a reference for investment decisions and is not intended to solicit investments. Please make your own final decisions regarding investment policies and timing. Please understand that Gaitame.com Inc. will not be liable for any damages resulting from viewing this service.