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USDJPY: Bulls soar
2023-02-06
1186
Fundamental analysis:
USD/JPY remained volatile around 131.055. Moody's said that due to low interest rates, the Japanese government still has "very comfortable" financing conditions. If the Bank of Japan raises interest rates in the future, it may be gradual, and the near-term impact on Japanese debt financing will be limited.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls has soared rapidly, the market is bullish, the momentum of the bulls continues to rise, the MACD indicator is in the short area and moves up to the 0 axis, and the RSI indicator is oscillating on the side of the 50 balance line;
Long-short turning point: 130.934
Suppression: 131.298, 131.525
Support: 130.685, 130.437
Trading strategy: Bullish above 130.934, target 131.298, 131.525
Alternative strategy: bearish below 130.934, target 130.685, 130.437
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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