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Usdjpy: a short drop

2023-01-09
615
Fundamental analysis:
The US dollar maintained a shock around 132.030 against the yen. Due to the rise in inflation, Japan's substantive salary in November decreased by 3.8%, the fastest speed reduction in more than eight years, and the nominal salary rose for the 11th consecutive month, but the increase has slowed. Slow salary recovery is still a problem that Japan needs to solve it, because the rising cost of living hurts the family and drags the consumption expenditure of the third largest economy in the world.

US dollar yen usdjpy — 4 hours K -line diagram display:



Technical analysis:
Look at the 4 -hour chart: The high position of the short power fell rapidly, the short -term decline may continue, the market short emotions are shrouded, the MACD indicators are on the side of the 0 axis, and the RSI indicators are in a weak sorting near 50 equilibrium lines;
Multi -time turning point: 132.295
Suppression: 132.766, 133.282
Support: 131.552, 131.127
Trading strategy: 132.295 to see the bullish, target 132.766, 133.282
Alternative strategy: Shisting below 132.295, target 131.552, 131.127

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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