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USDJPY: bearish weakness down
2022-10-05
1215
Fundamental analysis:
The USD/JPY remained volatile around 144.134, and inflation rose. However, the Bank of Japan has promised to maintain an ultra loose monetary policy. The Bank believes that the rise in inflation is driven by temporary factors such as rising fuel and raw material prices, rather than strong consumption.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows: short-term entanglement, high position, narrow range consolidation and translation, market bearish sentiment starts to emerge, and there are signs of continuing to retreat in the short term. The MACD indicator is in the bull region, maintaining a weak downward trend, and the RSI indicator is in the narrow range consolidation below the 50 equilibrium line;
Empty turning point: 144.134
Pressing position: 144.470, 144.767
Support position: 143.719, 143.432
Trading strategy: 144.134 lower bearish, target 143.719, 143.432
Alternative strategy: bullish on 144.134, target 144.470, 144.767
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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