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USDJPY: low strong pull up
2022-08-03
1278
Fundamental analysis:
The dollar remained volatile around 133.045 against the yen, and a slight drop in energy prices also helped the yen, because Japan is a net energy importer. In addition, the yen also benefited from the flow of some safe haven funds due to concerns about Pelosi's visit.
USD JPY - 4-hour K-line chart shows:
Technical analysis:
Looking at the 4-hour chart: the short momentum maintained a downward shock, the low position was supported, and the strong pull-up rose. The short-term long momentum began to wait for the opportunity to enter. The MACD index was in the short area, and the consolidation and upward movement were maintained, and the RSI index was in a weak position near the 50 equilibrium line;
Turning point of long and short: 132.765
Pressing position: 133.734, 134.380
Support position: 132.135, 131.569
Trading strategy: bullish above 132.765, target 133.734, 134.380
Alternative strategy: bearish below 132.765, target 132.135, 131.569
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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