In the Tokyo market, Dollar buying continued, and Dollar-Yen rose to 152.54 Yen. The rally, known as the “Trump rally,” led to a Dollar buyback, but in the New York market, it fell back to 151.34 Yen. At this level, the 200-day moving average line and the middle line of the Bollinger Band held the decline.
As news of the U.S. presidential election results will be coming out throughout Tokyo time today, the market may react up and down with each report. Recently, the view that “Trump is favorable for the Dollar” has persisted, so any news suggesting Trump is winning could trigger more Dollar buying.
However, it will take time to see the true direction of the Dollar, so it’s challenging to commit to one side. If the Dollar reacts instantly to headlines, following that move could be risky; instead, waiting for a price pullback may be a safer approach.
Dollar-Yen Expected Range: 153.00 Yen – 150.50 Yen
Note: The above information does not guarantee profit. Please make your own decisions when trading.