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USDJPY: Bears tumble sharply
2022-12-14
1100
Fundamental analysis:
USD/JPY remained volatile around 135.614. The Bank of Japan keeps the yield on 10-year Japanese government bonds between 0% and 0.25%, a policy that encourages investors and traders to borrow yen cheaply before selling them in order to pay against other currencies and currencies over several years. Funding for speculative bets on assets.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum fluctuates after a rapid decline, the market is shrouded in short-term sentiment, the short-term decline may continue, the MACD indicator is hovering below the 0-axis, and the RSI indicator is under the weak side of the 50 balance line;
Long-short turning point: 135.808
Suppression: 136.278, 136.725
Support: 135.216, 134.802
Trading strategy: bearish below 135.808, target 135.216, 134.802
Alternative strategy: Bullish above 135.808, target 136.278, 136.725
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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