Carry Trade – Weekly Analysis – キャリートレード ― 週間分析

I hope the Bank of Japan knows what these Japanese candlestick formations mean. They were familiar to Japanese rice traders centuries ago and today are known as Three White Soldiers — 赤三兵 (Aka Sanpei) — and Bullish Engulfing — 陽の包み足 (Yō no Tsutsumi-ashi). Their message is not particularly subtle: bulls are taking control. And, at least from the chart’s perspective, the recent intervention to support the yen may be starting to look like money down the drain. Japan deployed a record ¥15.4 trillion (about $98.7 billion) during its latest intervention campaign, with the U.S. also participating in coordinated yen-buying. Yet USD/JPY is again pushing higher. In this Carry Trade Weekly, we examine the latest USD/JPY candlestick signals, momentum structure, and the long-term Elliott Wave roadmap. We also assess what the developing move could mean for the carry trade itself—and for markets that have become increasingly sensitive to sharp swings in…