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USDJPY: Disadvantaged finishing
2022-11-21
1153
America and Japan: sorting out the weak
USDJPY USDCHF
Fundamental analysis:
The US dollar remained volatile against the Japanese yen at 140.371. The result that Japan's inflation reached a new 40 year high put the Bank of Japan in a more embarrassing situation. It is increasingly difficult for the Bank of Japan to insist that the current cost driven inflation is temporary. If the yen continues to weaken, more enterprises will try to pass on costs to consumers.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the low position short-term weak position has been sorted and shifted, the market bulls have signs of waiting for opportunities to enter the market, the MACD index is in the short position area and moves up, and the RSI index is in the weak position around the 50 equilibrium line;
Empty turning point: 140.165
Pressing: 140.928, 141.651
Support: 139.481, 138.895
Trading strategy: bullish above 140.165, target 140.928, 141.651
Alternative strategy: 140.165 lower bearish, target 139.481, 138.895
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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