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Us and Japan: high shock retreat
2022-07-20
1161
Fundamental analysis:
The dollar remained volatile around 138.143 against the yen, and a 100 basis point interest rate hike by the Federal Reserve in July may be out of the question. In the case that the strong expectation of interest rate hike may fail, the United States and Japan may continue to have a high profit adjustment market.
USD JPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the high short position momentum maintains a shock downward, the short position moves downward again after the short-term reversal moves upward, and the overall short position of the market may continue. The MACD index is in the long position and maintains a narrow consolidation, and the RSI index is in the weak position around the 50 equilibrium line;
Long short turning point: 138.277
Pressing position: 138.649, 139.046
Support position: 137.804, 137.525
Trading strategy: bearish below 138.277, target 137.804, 137.525
Alternative strategy: bullish above 138.277, target 138.649, 139.046
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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