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Us and Japan: high and weak retreats
2022-07-18
1201
Fundamental analysis:
The USD / JPY remained volatile around 138.557, and the comments of Japanese government officials showed that the Bank of Japan was increasingly likely to intervene. The last time Japan entered the market to support the yen was during the Asian financial crisis in 1998, when the exchange rate of the yen against the US dollar was about 146.
USD JPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the bull power rose strongly, and after the high level was blocked, the short power waited for the opportunity to enter, and began to decline slowly. The MACD index was at the high level in the bull region, maintaining the consolidation and translation, and the RSI index was at the low level in the bull region;
Long short turning point: 138.663
Pressing position: 139.046, 139.400
Support position: 138.167, 137.804
Trading strategy: bearish below 138.663, target 138.167, 137.804
Alternative strategy: bullish above 138.663, target 139.046, 139.400
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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