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USDJPY: Falling low
2023-01-13
1012
Fundamental analysis:
USD/JPY remained volatile around 129.271, and the Bank of Japan may assess the side effects of its massive easing policy. The news sparked investor expectations that the Bank of Japan will change its current loose monetary policy. And the upcoming announcement of the new governor of the Bank of Japan.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the market is shrouded in bearish sentiment, the short-term decline may continue, the market as a whole is in a bearish downward trend, the MACD indicator is in the bearish zone and slowly moves down, and the RSI indicator is in the bearish zone and continues to fluctuate downward;
Long-short turning point: 129.468
Suppression: 129.846, 130.192
Support: 129.916, 128.642
Trading strategy: bearish below 129.468, target 129.916, 128.642
Alternative strategy: Bullish above 129.468, target 129.846, 130.192
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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