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USDJPY: Bull concussion moves up
2022-09-28
1073
Fundamental analysis:
The US dollar remained volatile against the Japanese yen at 144.723. The Bank of Japan is buying bonds to lower yields. The yield curve control tool of the Bank of Japan only limits the yield of 10-year Japanese government bonds. Therefore, when the Bank of Japan uses this tool, the rise of yield will permeate other maturities of government bonds.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the low bulls' momentum has kept surging, and the short-term bullish mood has been shrouded. The market bulls continue to move upward. The MACD index hovers in the bull area on the upper side of the 0 axis, and the RSI index is in the narrow range of the 50 balanced online side;
Empty turning point: 144.579
Pressing position: 145.152, 145.538
Support position: 144.223, 143.828
Trading strategy: bullish above 144.579, target 145.152, 145.538
Alternative strategy: bearish under 144.579, target 144.223, 143.828
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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