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USDJPY: high level oscillation moves up
2022-09-02
1113
Fundamental analysis:
The US dollar fluctuated around 140.195 against the Japanese yen, and the final value of Japan's quarterly Manufacturing Purchasing Managers' index (PMI) in August fell to 51.5 from 52.1 last month. This is still higher than the 50 of the boom and bust watershed, but it is the lowest since September 2021, but higher than the initial value of 51.0.
US dollar and Japanese yen USDJPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls kept surging, and the high level continued to move upward in the short term. The bullish sentiment of the market remained the same. The MACD index was in the long area to maintain consolidation, and the RSI index was in the long area to maintain consolidation and move upward;
Long short turning point: 139.992
Pressing position: 140.725, 141.279
Support position: 139.538, 139.153
Trading strategy: bullish above 139.992, target 140.725, 141.279
Alternative strategy: bearish below 139.992, target 139.538, 139.153
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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