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USDJPY: step vibration up
2022-08-09
1348
Fundamental analysis:
The USD / JPY fluctuated around 134.817, and the most profitable days of "short the yen" have become a thing of the past. The agency expects that the US dollar will fall to 130 against the Japanese yen in the first quarter of 2023, which is in sharp contrast to the view that the exchange rate will rise to 140 when the bearish atmosphere was strongest in mid July.
US dollar and Japanese yen USDJPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the power of low-level bulls keeps moving up, the short-term entanglement finishing shifts, the MACD index stays weak in the Bulls area, and the RSI index is in the 50 balanced online side narrow range finishing;
Long and short turning point: 134.806
Pressing position: 135.644, 136.345
Support position: 134.212, 133.694
Trading strategy: bullish above 134.806, target 135.644, 136.345
Alternative strategy: bearish below 134.806, target 134.212, 133.694
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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