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Us and Japan: the high level moves down slowly

2022-07-19
1142
Fundamental analysis:

The USD / JPY remained volatile around 138.118, and investors should be vigilant about whether the Bank of Japan will intervene. The last day, the central bank came to support the yen during the Asian financial crisis in 1998, when the exchange rate of the US dollar against the yen was about 146.


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




Technical analysis:


Looking at the 4-hour chart: the high short power maintained the weak consolidation and slowly declined, the short-term decline has not yet stopped, the MACD index is in the long region, the high consolidation moved down, and the RSI index is in the weak hovering near 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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