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Us and Japan: high range shock
2022-07-04
1286
Fundamental analysis:
The dollar remained volatile around 135.253 against the yen, and the Bank of Japan believes that the current inflation is unsustainable., In addition to CPI data, the Bank of Japan may also need time to study the wage trend and inflation expectations of households and enterprises.
USD JPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, it remained in the broad vibration in the Bollinger belt index channel for a long time, during which it repeatedly spied the nodes of the upper and lower tracks, and the Bollinger belt index showed a slow opening trend. The MACD index was in the long region, maintained a weak position, slowly moved down to the lower side of the 0 axis, and the RSI index was in the narrow consolidation below the 50 equilibrium line;
Long short turning point: 135.586
Pressing position: 136.252, 136.832
Support position: 134.640, 134.060
Trading strategy: bearish below 135.586, target 134.640, 134.060
Alternative strategy: bullish above 135.586, target 136.252, 136.832
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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