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Us and Japan: high volatility
2022-07-01
1382
Fundamental analysis:
The US dollar remained at 135% against the Japanese yen There was a shock around 579. The market generally expected that the annual rate of core CPI in Tokyo would rise to 2.1% in June, which may indicate that the national CPI data will rise. It is expected that this will stimulate traders who expect the Bank of Japan to succumb to market pressure, bringing downward pressure on the dollar against the yen in the short term.
USD JPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the high level broke through the nodes near the upper rail of the Bollinger belt index and began to retreat slowly. It was tangled in the consolidation of the middle and lower rail sections of the Bollinger belt. The Bollinger belt index continued to close. The MACD index was in the long area and maintained a weak downward trend, and the RSI index was in the narrow consolidation below the 50 equilibrium line;
Multi empty turning point: 135.837
Pressing position: 136.533, 137.220
Support position: 134.867, 134.259
Trading strategy: bearish below 135.837, target 134.867, 134.259
Alternative strategy: bullish above 135.837, target 136.533, 137.220
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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