Trade Idea (2020-11-19) JPY buying dominant

Trade Idea

Good morning.

Yesterday’s US stocks were on the decline. In the early stages, buying preceded and rebounded, but in the final stages, return sales became stronger. This week, DJIA has risen to the highest level due to expectations for vaccine development, and it has been showing signs of reaching the 30,000. However, as the spread of infection continues in the United States, it will take some time for the vaccine to spread, and it is unlikely that the situation will change until at least the middle of 2021, and US stocks that are in the highest range are also cautious about the upside.

In the foreign exchange market, JPY buying and USD selling were dominant. USDJPY temporarily fell to 103.64 and ended at around 103.8. EURUSD had risen to 1.189 in the London market temporally, but has been sluggish in the New York market, ending around 1.185. EUR has weakened against JPY and GBP, but remains above the daily 20-day MA.

EURUSD H1 (Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength

US market yesterday

DJIA: 29,438.42 (-344.93, -1.16%)
NASDAQ: 11,801.6 (-97.74, -0.82%)
S&P 500: 3,567.79 (-41.74, -1.16%)
GOLD: 1,869.4 (-4.5)
OIL: 41.53(-0.29)
US 10-YR: 0.857 (-0.025)
VIX: 23.84 (+1.13)

Asian market today

Nikkei: 25,547~ (-180)
CME Dow future: 29,379~(-59 Dow)

Economic indicators in this week

GMT 00:30(AU)Employment statics
GMT 11:30(Turkey)Policy interest
GMT 13:30(US)New Jobless Claim
GMT 15:00(US) Existing Home Sales