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United States and Japan: bears continue to fall
2022-07-25
1222
Fundamental analysis:
The dollar remained volatile against the yen at around 136.176. In the first half of this year, Japan's trade deficit exceeded 7900 billion yen, a new high in the same period since comparable data were available in 1979. As a country heavily dependent on imports of energy and materials, Japan's trade balance is deteriorating significantly.
USD JPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the momentum of high short positions fell rapidly, and the overall short position of the market was good. The MACD index was at the lower side of the axis 0, and the weak short position area moved downward, and the RSI index was at the lower side of the 50 equilibrium line, and continued to consolidate downward;
Long short turning point: 136.311
Pressing position: 136.681, 137.051
Support position: 135.836, 135.530
Trading strategy: bearish below 136.311, target 135.836, 135.530
Alternative strategy: bullish above 136.311, target 136.681, 137.051
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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