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USDJPY: bulls continue to move up
2022-08-22
1224
Fundamental analysis:
The US dollar fluctuated around 136.. 885 against the Japanese yen. The rise in CPI inflation in Japan in July is unlikely to make the Bank of Japan begin to withdraw from the loose monetary policy. Kuroda has repeatedly said that the current inflation driven by commodities is temporary, and stronger wage increases are necessary to realize the positive growth cycle sought by the central bank.
US dollar and Japanese yen USDJPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the bullish momentum maintains the trend of concussion pulling up, and the short-term or continuous upward trend, the market bullish mood is shrouded, the MACD index moves slowly upward in the long region, and the RSI index maintains high consolidation in the long region;
Long and short turning point: 136.703
Pressing position: 137.277, 137.654
Support position: 136.324, 135.897
Trading strategy: bullish above 136.703, target 137.277, 137.654
Alternative strategy: bearish below 136.703, target 136.324, 135.897
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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