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Trading is most feared when you can't understand the market, and candlestick charts are like a "truth mirror" of market sentiment. Each candlestick tells a story; once you learn how to interpret it, you can anticipate the next market move in advance.
What exactly are candlesticks telling us?
Candlesticks, also called "Lollipop" charts, condense four price points within a certain period (Open, Close, High, Low). Simply put, one candlestick is a record of price movements over a period.
Each candlestick consists of two parts: the real body (the rectangular part) and the shadow (the thin line).
The real body represents the relationship between the opening and closing prices:
- If the closing price > opening price, the body is red (bullish), indicating buyers are in control during this period
- If the closing price < opening price, the body is green (bearish), indicating sellers are in control
The thin line above the body is called the upper shadow, with the top representing the highest price during that period; the line below the body is called the lower shadow, with the bottom representing the lowest price.

There is an old saying in the investment market: "Go long steadily, go short刺激." Many people have vivid imaginations about short selling, but often overlook the hidden deadly risk — short squeeze. So, what does short squeeze mean? Simply put, it is a nightmare for short sellers and a celebration for long investors.
Understanding what a short squeeze is: from concept to phenomenon
Short squeeze (also known as "嘎空") essentially refers to the rapid rise in the price of a stock or asset that has been shorted, forcing short investors to buy back their positions at high prices, which further drives up the asset's price. This is a self-reinforcing process — the more short positions lose, the more aggressive the buy-to-close orders, and the higher the stock price soars.
To understand what a short squeeze means, first, you need to understand the three common ways to short:
Borrowing stocks to sell: Borrowing stocks from long-term shareholders, paying interest, and repurchasing them when the stock price falls to return to the original shareholders.
Futures or CFD contracts: Through leverage, trading contracts that derive their value from the underlying asset, allowing traders to speculate on price movements without owning the actual asset.

The pieces are falling into place. Solana is converging on a critical breakout moment, and for once, the signals across multiple market dimensions—technical structure, institutional positioning, and derivatives positioning—are pointing in the same direction.
The Setup: Where Are We Technically?
S

Disagreements in the 2026 USD/JPY exchange rate forecast, with bulls and bears each holding different views. The bears, like JPMorgan Chase, predict the yen will continue to depreciate due to expansionary fiscal policies, potentially reaching 164 by the end of the year. Meanwhile, the bulls, such as Nomura, are optimistic about the yen's rebound potential, forecasting a retreat to 140. Market uncertainty about future trends suggests investors should conduct swing trading based on technical and fundamental analysis.

By December 2025, the Taiwanese dollar against the Japanese yen surged to 4.85, leading to a sharp increase in yen exchanges. But do you know? Exchanging the same 50,000 TWD with the wrong method could cost you an extra 1,500 NT$, while choosing the right method could save you 300 NT$.
Today, we not only tell you how to exchange, but also help you see the true costs of each method—including bank counter services, online currency exchange, foreign currency ATMs, and even compare the trend of the Hong Kong dollar to Japanese yen exchange rates—to help you pinpoint the most cost-effective timing.
Is exchanging for Japanese yen really worth it?
Many Taiwanese people only consider the yen as "pocket money for travel," but it's actually much more than that.
In travel and daily needs, Japan relies heavily on cash (only 60% credit card penetration), and purchasing agents, online shopping, and studying abroad all require yen. But more importantly, the yen is one of the world's three major safe-haven currencies (alongside the US dollar and Swiss franc). When the stock market declines or geopolitical risks increase, funds tend to flow into the yen for safety—during the Russia-Ukraine war in 2022,

Asian markets saw a significant rally in precious metals, led by gold's record peak of $4,466.02 per ounce, driven by escalating U.S.-Venezuela tensions and Middle Eastern instability, prompting investors to seek safe-haven assets.

On December 22nd during Asian trading hours, spot gold prices accelerated upward, breaking through $4,372 per ounce in the short term with a single-day increase of $33. Meanwhile, silver also showed no signs of weakness, reaching a record high of $68.05 per ounce with a gain of 1.3%. What is behind this fierce surge?
Why are precious metals so hot right now?
Fed Rate Cut Expectations Reignite
Earlier this week, after releasing multiple economic data points, the market's outlook on the Fed's policy shifted. Traders generally bet that the Federal Reserve will implement two rate cuts by 2026. The accommodative monetary policy environment is extremely favorable for non-yielding assets like gold and silver—when interest rates decline, the opportunity cost of holding precious metals decreases, naturally attracting funds.
Geopolitical Tensions Boost Safe-Haven Demand
Rising global political risks are also pushing up precious metals. The U.S. has escalated its oil embargo measures against Venezuela, and the situation in Ukraine...

Understanding Crude Oil and Investment Channels
As the most traded commodity globally, crude oil holds a pivotal position in the international market and is one of the key drivers of the global economy. Investors interested in participating in the crude oil market can choose from various channels, including futures, funds, ETFs, stocks, and options. Among these, crude oil ETFs have become a popular choice for many retail investors due to their ease of operation and relatively manageable risk.
This article will delve into the operational mechanisms and product features of crude oil ETFs, list specific ETF products available in Taiwan and the US stock market, and introduce other crude oil investment methods to help you gain a comprehensive understanding of the crude oil investment ecosystem.
What is a Crude Oil ETF? Core Concept Analysis
Crude oil ETFs first appeared in 2005, during a period of strong global economic recovery. Contrary to traditional notions, crude oil ETFs do not hold physical crude oil but instead invest through crude oil futures and forward contracts.

What Are ETFs Really?
Exchange Traded Funds, or ETFs for short (Exchange Traded Funds), represent one of the most revolutionary financial instruments of the past decades. Unlike individual stocks traded on the market, these funds

Basic Understanding of the US Dollar Exchange Rate
The exchange rate refers to the ratio at which one country's currency can be exchanged for another's. Taking EUR/USD as an example, this number represents how many US dollars are needed to buy one euro. When EUR/USD rises from 1.04 to 1.09, it indicates that the euro is appreciating and the dollar is depreciating; conversely, if it falls to 0.88, the euro depreciates and the dollar appreciates.
The US Dollar Index is a key indicator of the overall strength of the dollar, composed of the weighted exchange rates of the dollar against six major currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. A high or low index directly reflects the dollar's relative strength against these currencies. It is important to note that Federal Reserve policy adjustments do not necessarily directly correlate with movements in the US Dollar Index—this also depends on whether these countries' central banks take similar measures.
Current Dilemma and Year-to-Date Trends of the US Dollar Index
The US Dollar Index has declined for five consecutive days and is currently hovering near its lows since November.

Core Definition of the PCE Index
The PCE (Personal Consumption Expenditures Price Index) is an important economic indicator that measures changes in U.S. household spending on goods and services. Unlike other price indices, the PCE index more directly reflects the actual situation on the consumption side, making it the Federal Reserve's preferred tool for monitoring inflation.
In simple terms, the PCE index tracks changes in how consumers spend and the amounts they spend. When this index rises, it means people are paying more for the same items; when it falls, it indicates increased purchasing power or cheaper goods. Behind this seemingly simple number, it influences central bank policies, stock and bond trends, and even global capital flows.
How is the PCE Index Calculated?
The calculation process of the PCE index involves four key steps:
Step 1: Data Collection - Monitoring real-time price changes of various goods and services such as food, clothing, housing, healthcare, and transportation.

The Renminbi shifts from depreciation to appreciation: the USD to RMB exchange rate reaches a critical turning point
By the end of 2025, the Renminbi experienced an unexpectedly strong rebound. In mid-December, the USD to RMB exchange rate sharply broke below the 7.05 level, reaching the highest appreciation point in nearly 14 months, and then further touched the 7.0404 level. This shift marks the waning of the long-term depreciation cycle that began in 2022, with a new round of appreciation gradually taking shape.
Looking back at this year's exchange rate fluctuations, the RMB against the US dollar did not decline as the market pessimistically expected. Instead, it appreciated by approximately 3% over the year, maintaining a two-way fluctuation within the 7.04 to 7.3 range. The offshore market was even more sensitive, with USD to offshore RMB fluctuating between 7.02 and 7.4, reflecting different international market expectations for the RMB.
This reversal did not come out of nowhere. Since the second half of the year, as the China-US trade environment improved and the US dollar index shifted from strength to weakness, the

December is traditionally strong for stocks, driven by "Santa Claus Rally" effects, with U.S. markets rising in 75% of years and Europe even more so. Institutional practices and investor psychology both contribute, but 2025 may challenge this trend due to unique market conditions.

The Bank of Japan raised interest rates by 25 basis points to 0.75% on December 19, but failed to strengthen the yen, as the central bank governor's unclear future rate hike schedule disappointed the market. Analysts believe that the lack of clear guidance on rate hikes and the higher US dollar interest rates make the yen less attractive, and it is expected to continue underperforming in the near term. The market is looking forward to a clearer rate hike path to support the yen.

Stock investing involves both opportunities and risks; the key lies in understanding the essence of stocks, sources of returns, and factors influencing prices. Investors need to master basic trading rules and choose suitable strategies such as long-term value investing or swing trading. Beginners should start by learning fundamental knowledge and practicing simulated trading, continuously reviewing and optimizing to survive and profit in the market.

The biopharmaceutical industry in 2023 has ushered in a critical turning point, with CDMO stocks performing remarkably. Taiwan's leading company, Bao Rui, surged over 118% in the first half of the year, far outperforming the market, sparking market attention to the entire CDMO industry. What exactly is driving this wave of market enthusiasm? What is the underlying logic behind the recent rise of CDMO stocks? This article will delve into the investment logic of the CDMO industry.
Understanding CDMO: The Next Hot Spot in Global Pharmaceutical Contracting
Definition and Industry Ecosystem of CDMO
CDMO stands for Contract Development and Manufacturing