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USDJPY: bulls move up with strong shocks
2022-08-19
1167
Fundamental analysis:
The USD / JPY fluctuated around 135.727, and the monetary policy meeting of the Bank of Japan in October may provide a window of opportunity for it to indicate that it will change its view when updating its inflation forecast next time. If the price outlook in the October report, especially the core inflation rate, is higher, it indicates that the BoJ's thinking may be changing.
US dollar and Japanese yen USDJPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls' momentum maintained a good momentum of fluctuation and rising. After breaking the previous high in the short term, the market bullish sentiment continued. The MACD index maintained the consolidation and upward movement in the Bulls' region, and the RSI index was in the weak upward movement in the Bulls' region;
Long and short turning point: 135.727
Pressing position: 136.276, 136.650
Support position: 135.383, 134.990
Trading strategy: bullish above 135.727, target 136.276, 136.650
Alternative strategy: bearish below 135.727, target 135.383, 134.990
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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