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USDJPY: bulls move up slowly
2022-08-17
1207
Fundamental analysis:
USD / JPY fluctuated around 134.121, and investors' demand for USD may continue, as the Fed's interest rate hike boosted the interest rate difference between USD and JPY and the hedging cost. US dollar demand is another factor contributing to the strength of the US dollar against the Japanese yen USD / JPY this year.
US dollar and Japanese yen USDJPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the momentum of the Bulls maintains a good momentum of oscillation and upward movement in the short term. The MACD index is hovering on the upper side of the 0 axis, and the RSI index is in the narrow range of the 50 balanced online side;
Long and short turning point: 133.926
Pressing position: 134.584, 135.052
Support position: 133.471, 133.041
Trading strategy: bullish above 133.926, target 134.584, 135.052
Alternative strategy: bearish below 133.926, targets 133.471 and 133.041
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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