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USDJPY: Bears on the downside
2022-12-19
1120
Fundamental analysis:
The dollar remained volatile around 136.545 yen, with Japan's national consumer price inflation likely to hit a 40-year high in November as companies increasingly pass on high energy, food and raw material costs to households. The national core consumer price index (CPI) for November, which excludes volatile fresh food prices but includes energy, is likely to show a 3.7% increase from a year earlier.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high-level short-term momentum emerges, and continues to fluctuate downward. The short-term decline may continue, and the market’s short-term sentiment enters the market strongly.
Long-short turning point: 136.731
Suppression: 137.139, 137.535
Support: 136.159, 135.828
Trading strategy: bearish below 136.731, target 136.159, 135.828
Alternative strategy: Bullish above 136.731, target 137.139, 137.535
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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