CM Trade

Download APP to receive bonus


USDJPY: Bears move down

Fundamental analysis:

The dollar remained volatile against the yen near 144.844. Japan's manufacturing output and new orders shrank for the third consecutive month in August, but the rate of shrinkage slowed from the previous month. Employment was unchanged, snapping a 28-month streak of expansion.

US dollar yen USDJPY - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the high short-term momentum continues to fluctuate downward, the short-term decline may continue, the overall market sentiment is shrouded, the MACD indicator is finishing below the 0 axis, and the RSI indicator is hovering weakly below the 50 balance line;

Resistance levels: 145.287 145.600

Support levels: 144.507 144.211

Trading strategy: bearish below 145.000, target 144.507 144.211
Alternative strategy: Bullish above 145.000, target 145.287 145.600

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar