In the Tokyo market at the beginning of the year, the dollar yen has started rocket. After breaking out of the 115.52 level last year’s high, it has risen to around 115.80 at once. In the overseas market the day before, there was a scene where the price fell below 115 yen, but it soon returned to the 115 yen level, and it seems that the dollar yen is in a situation of “buy when it goes down”.
In the NY stock market yesterday, the Dow Jones Industrial Average and the S & P500 index reached their highest levels. The auspicious start of trading in 2022. It was reported that Apple stocks exceeded $ 3 trillion for the first time. It is said to be about half the total stock price of the Tokyo Stock Exchange. This has led to yen selling pressure on risk appetite, and the cross yen is rising along with the dollar yen.
In addition, the dollar was bought along with the rise in US bond yields. In particular, there are widespread voices that the yen is easy to sell against the dollar. As the central banks of each country, including the United States, steer toward the normalization of monetary policy, the Bank of Japan feels left behind and lagging behind. At the last US FOMC last year, the main scenario was to raise interest rates three times this year. This is in stark contrast to the Bank of Japan, which has only vague behaviors such as stealth tapering.
At the beginning of the year, attention will be paid to how much the dollar / yen pair will maintain its rising power. For the time being, the anticipators are likely to listen to the milestone level of 120 yen. And, it will be conscious of exceeding 125 yen, which is the high price range of the Abenomics market. However, it should be noted that in the case of day trading, it is often better not to be overly aware of the distant level.
I missed a little, but USDJPY is rising as expected. In the future, we are aiming for 120 yen and it is expected to rise, so basically we plan to buy a bargain.
In addition, GBPJPY has also risen sharply, and we are also considering buying a bargain.