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USDJPY: the high level moves down
2023-02-08
1266
Fundamental analysis:
USD/JPY remained volatile around 131.102 as the Japanese government has sought advice on Bank of Japan Vice Governor Masayoshi Amemiya to succeed Haruhiko Kuroda as central bank governor, dampening hopes that the Bank of Japan's policy normalization will progress under the new governor. Superimposed on the impact of the recent strong non-agricultural data in the United States, the yen has weakened more sharply in recent days.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics maintain shocks and move down, the short-term decline may continue, the market's short-term sentiment slowly emerges, the MACD indicator is in the bullish area and moves down, and the RSI indicator is hovering weakly near the 50 balance line;
Long-short turning point: 131.232
Suppression: 131.532, 131.864
Support: 130.811, 130.493
Trading strategy: bearish below 131.232, target 130.811, 130.493
Alternative strategy: Bullish above 131.232, target 131.532, 131.864
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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