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USDJPY: finishing within a narrow range
2023-01-30
1022
Fundamental analysis:
USD/JPY remained volatile around 129.900, and the Bank of Japan may be correct in assuming that high inflation levels are temporary and that inflation will fall below the Bank of Japan's target soon. However, it is increasingly clear that the government wants to end this consensus. Kishida intends to discuss this consensus with Kuroda's successor, making the question of who will be Kuroda's successor all the more important.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term entanglement market is shrouded in bearish sentiment, but it is still in a weak position, the MACD indicator is weakly finishing near the 0 axis, and the RSI indicator is weakly hovering near the 50 balance line;
Long-short turning point: 130.104
Suppression: 130.466, 130.816
Support: 129.556, 129.171
Trading strategy: bearish below 130.104, target 129.556, 129.171
Alternative strategy: Bullish above 130.104, target 130.466, 130.816
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