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USDJPY: low move up
2022-12-23
1110
Fundamental analysis:
USD/JPY remained volatile around 132.366 as the Bank of Japan caused uproar in global financial markets by announcing a surprise adjustment to its bond yield control policy that would allow long-term interest rates to rise more, shocking investors and heralding data set to revive Japan's economy. A decade of aggressive stimulus may be over.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level long-term dynamics are slowly moving up within a narrow range, and the market’s bullish sentiment has begun to emerge slowly. The MACD indicator is in the short-term area and is slowly rising, and the RSI indicator is under the 50 balance line.
Long-short turning point: 132.121
Suppression: 132.789, 133.244
Support: 131.626, 131.206
Trading strategy: Bullish above 132.121, target 132.789, 133.244
Alternative strategy: bearish below 132.121, target 131.626, 131.206
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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