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USDJPY: bear moves down
2022-11-08
1073
Fundamental analysis:
The US dollar remained volatile against the Japanese yen at 146.633. The Ministry of Finance of Japan is considering increasing the issuance of 100 billion yen of two-year government bonds in the 2022/2023 fiscal year, as well as the issuance of 6-month government bond discount bills to fund the economic stimulus plan.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of short sellers fluctuates slowly and the short-term downward trend may continue. The market as a whole is in a weak position and slowly moves downward. MACD indicators are arranged under the 0 axis and RSI indicators are hovering under the 50 equilibrium line;
Empty turning point: 146.910
Pressing: 147.317, 147.713
Support: 146.215, 146.819
Trading strategy: bearish at 146.910, target 146.215, 146.819
Alternative strategy: bullish above 146.910, target 147.317, 147.713
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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