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United States and Japan: wide range shock

2022-07-05
1233
Fundamental analysis:

The USD / JPY remained volatile around 135.787. When the Bank of Japan released its new quarterly forecast at its meeting on July 20-21, it will raise its forecast of the core consumer inflation rate for this fiscal year to more than 2%. The Bank of Japan is likely to adhere to the current yield curve control for the rest of this year or even after.


USD JPY - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart: it has been maintained in the Bollinger belt index channel for a long time, and the amplitude space shows signs of narrowing. The Bollinger belt index is in a closing trend, MACD index hovers below the 0 axis, RSI index is in 50 equilibrium, and the online side is in narrow consolidation;


Long short turning point: 135 five hundred and eighty-six


Pressing position: 136.448, 137.064


Support position: 134.932, 134.277


Trading strategy: 135 586 is bullish, with targets of 136.448 and 137.064


Alternative strategy: 135 586 bearish below, target 134.932, 134.277

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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