CM Trade

Download APP to receive bonus

GET

Us and Japan: interval arrangement

2022-07-07
1142
Fundamental analysis:

The dollar remained volatile around 135.817 against the yen, and the dollar index rose like a tide, but the yen seemed to be a little firm. Since this year, shorting the yen has been one of the hot macro transactions. The yen has become the worst performing currency in the group of 10 this year, and the yen has fallen by 15% against the US dollar so far this year.


USD JPY - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the Bollinger belt index channel oscillated in a narrow range for a long time, and the amplitude space gradually narrowed. The Bollinger belt index showed a closing trend. The MACD index was weak around the 0 axis, and the RSI index was narrow on the upper side of the 50 equilibrium line;


Long short turning point: 135.817


Pressing position: 136.448, 137.064


Support position: 135.089, 134.436


Trading strategy: bullish above 135.817, target 136.448, 137.064


Alternative strategy: bearish below 135.817, target 135.089, 134.436


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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More