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USDJPY: short power drops rapidly
2022-08-11
1316
Fundamental analysis:
The US dollar fluctuated around 132.861 against the Japanese yen. According to Jiji news agency, Japanese Prime Minister Fumio Kishida said at the temporary cabinet meeting that he had received the resignation of the current cabinet members. In the afternoon of the same day, Kishida will hold talks with Yamaguchi natsuo, the leader of the Komeito Party of Japan, and establish a cabinet headquarters to formally carry out cabinet reshuffle.
US dollar and Japanese yen USDJPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short-term downward trend of the market is good. The low level in the early stage is close and the breaking point is imminent. The MACD index is at the high level. The short-term volatility falls to the lower side of the 0 axis, and the RSI index is at the lower side of the 50 equilibrium line;
Long and short turning point: 133.155
Pressing position: 133.814, 134.478
Support position: 132.337, 131.745
Trading strategy: bearish below 133.155, target 132.337, 131.745
Alternative strategy: bullish above 133.155, target 133.814, 134.478
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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