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U.S. recession risk rises, yen risk aversion heats up
2022-06-06
855
Fundamental analysis:
The USD / JPY remained volatile around 130.828, and the JPY will perform well as the risk of US recession rises. When U.S. demand slows, the U.S. economy falls into recession or growth slows down, the yen can serve as a safe haven. In this highly uncertain and turbulent macro and market environment, the yen is the safest currency.
USD / JPY - 4-hour K-line chart display:
Technical comments: the upper rail section in the Bollinger belt index channel continues to fluctuate and rise, and the high level touches the nodes near the upper rail 130.987. The short-term bull pull-up trend may continue. The Bollinger belt index continues to rise and rise, the MACD index is at the high level of the bull region and maintains the consolidation and translation, and the RSI index is at the lower side of the 80 equilibrium line of the overbought region;
Multi empty turning point: 130.695
Pressing position: 131.123, 131.415
Support position: 130.413, 130.082
Trading strategy: bullish above 130.695, target 131.123, 131.415
Alternative strategy: bearish below 130.695, target 130.413, 130.082
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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