On March 30, 2022, the Japanese yen sale was finally over. The selling phase came unexpectedly earlier than I expected. Now that all markets are declining, we are in the selling phase for the time being. One-sided Japanese yen sales continued in all markets, but perhaps I was really tired, I’m heading towards dropping them. Although it is a sale in the short term, it is highly possible that Japanese yen sales will not stop if you look at it in units of 10 or 20 years. Let’s take a look at the current market price.
USD/JPY
Daily USD / JPY as of March 30, 2022. It has broken through the Kuroda line of 125 yen. However, a big plunge occurred after that, and it has receded to 121 yen. However, buying US dollars has always been ahead, and it seems likely that it is a temporary return.
EUR/JPY
Daily EUR / JPY as of March 30, 2022. The euro’s surge has stopped once, and many long beards have appeared, so it seems that it will temporarily shift to the selling phase. The euro is vulnerable to the Ukrainian war and could suddenly undergo cataclysms in the future.
GBP/JPY
Daily GBP / JPY as of March 30, 2022. The surge of the pound has stopped once, and the long beard has popped out greatly, but since it is in a state where this high can not be reached, it seems that it will temporarily shift to the selling phase. The pound is vulnerable to the Ukrainian war and could suddenly undergo cataclysms in the future.
AUD/JPY
Daily AUD / JPY as of March 30, 2022. The impression that the apparently unusual Australian dollar buying has finally settled down. The long upper beard has popped out greatly, but since it is in a state where this high price cannot be updated, it seems that it will temporarily shift to the selling phase. Crude oil is currently on a downtrend, which is likely to boost the plunge.
CAD/JPY
Daily CAD / JPY as of March 30, 2022. The long upper beard has popped out greatly, but since it is in a state where this high price cannot be updated, it seems that it will temporarily shift to the selling phase. As with the Australian dollar, crude oil is on a downtrend as of today, which is likely to boost the plunge.
Will it come back in November 2021?
Such an extraordinary surge also occurred in October 2021. However, the following month, in November 2021, the new coronavirus strain Omicron broke out, and Japanese yen buying was flooded, resulting in a full return. However, it is quite doubtful whether it will go all the way back this time. Unless a new and extraordinary illness occurs, it’s not so far. As I wrote in the following article, Japan itself is in an emergency situation, and the situation is unpredictable. Since there are too many negative factors in Japan, I expect that extreme Japanese yen buying will not occur.
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