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USDJPY: Shock recovery
2023-02-10
1112
Fundamental analysis:
The dollar remained volatile against the yen near 131.611, and the yield on Japan's five-year government bond rose to 0.20%, the highest level since January 27. Japan bought 1,127.5 billion yen in foreign bonds in the week ended February 3, compared with the previous value of -715.4 billion yen.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: short-term wide-ranging shocks, bullish dynamics rebounded, bullish sentiment in the market began to emerge, the MACD indicator hovered weakly above the 0 axis, and the RSI indicator was weakly finishing above the 50 balance line;
Long-short turning point: 131.501
Suppression: 131.895, 132.158
Support: 131.194, 130.913
Trading strategy: Bullish above 131.501, target 131.895, 132.158
Alternative strategy: bearish below 131.501, target 131.194, 130.913
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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