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The yen may consolidate in the coming months
2022-06-07
830
Fundamental analysis:
The USD / JPY remained volatile around 132.213. Japan's trade deficit may expand in the coming months, putting upward pressure on the USD / JPY. However, Japan's strong income surplus may provide some cushion. As long as Japan maintains a current account surplus, the yen can benefit from safe haven funds.
USD / JPY - 4-hour K-line chart display:
Technical comments: the bull power continued to pull up near the upper rail of the Bollinger belt index, and the high level reached around 132.301. The Bollinger belt index began to open its mouth after the bull power continued to pull up, and the short-term bull upward trend may continue. The MACD index maintained the high level of consolidation in the bull region, and the RSI index hovered below the 80 equilibrium line in the bull region;
Multi empty turning point: 132.034
Pressing position: 132.602, 132.954
Support position: 131.664, 131.282
Trading strategy: bullish above 132.034, target 132.602, 132.954
Alternative strategy: bearish below 132.034, target 131.664, 131.282
The above analysis is a personal point of view and is for reference only.
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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