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United States and Japan: high and narrow range finishing
2022-07-08
1208
Fundamental analysis:
The dollar remained volatile around 135.945 against the yen, and the Bank of Japan redeemed 16.2 trillion yen (about $120billion) of treasury bonds in June, a record size. This is the largest treasury bond redemption in a month. The previous record was in April 2016, when 11 trillion yen (81.5 billion US dollars) were redeemed.
USD JPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, it has been maintained in the narrow range consolidation in the Bollinger belt index channel for a long time, the Bollinger belt index is in the closing trend, the amplitude space is gradually narrowed, the MACD index is hovering on the upper side of the 0 axis, and the RSI index is in the 50 equilibrium online side consolidation;
Long short turning point: 135.817
Pressing position: 136.448, 137.064
Support position: 135.089, 134.436
Trading strategy: bullish above 135.817, target 136.448, 137.064
Alternative strategy: bearish below 135.817, target 135.089, 134.436
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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