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USDJPY: bear down

2022-11-23
461
Fundamental analysis:

The USD/JPY remained volatile around 141.181. Due to the lack of significant data and events, buyers of USD/JPY may take a breather before the important information is released on Wednesday. The divergence of monetary policy between the Federal Reserve and the Bank of Japan, combined with the COVID-19, is conducive to the bullish trend.


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




Technical analysis:

The 4-hour chart shows that short positions move downward in shock, and continue to retreat and move downward in the short term. The MACD indicator hovers on the top of the 0 axis, and the RSI indicator is in the weak consolidation near the 50 equilibrium line;

Empty turning point: 141.532

Pressing: 142.195, 142.896

Support: 140.508, 139.902

Trading strategy: 141.532 lower bearish, target 140.508, 139.902

Alternative strategy: 141.532 upper bullish, target 142.195, 142.896

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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