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USDJPY: Falling low
2023-01-16
949
Fundamental analysis:
USD/JPY remained volatile around 127.204. The Bank of Japan proposed to buy 100 billion yen of 3-5-year government bonds, 200 billion yen of 5-10-year government bonds, and 100 billion yen of 10-25-year government bonds. The Bank of Japan provides interest-free loans to banks to limit yields.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen at a low level, and the short-term decline has not stopped. The market as a whole is in a bearish mood.
Long-short turning point: 128.192
Suppression: 128.579, 128.954
Support: 127.517, 127.204
Trading strategy: bearish below 128.192, target 127.517, 127.204
Alternative strategy: Bullish above 128.192, target 128.579, 128.954
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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