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USDJPY: high level narrow range finishing

2022-09-09
477
Fundamental analysis:

The US dollar fluctuated around 144.086 against the Japanese yen, and Japan's real GDP in the second quarter recorded an annualized quarterly rate of 3.5%, a new high since the fourth quarter of 2021. Japanese funds sold us bonds for nine consecutive months.


USD / JPY - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, after the rapid pull-up of the Bulls' power, the high-level narrow range consolidation, the action force on the Bulls began to weaken, the MACD index remained in the long area, and the RSI index remained in the long area;


Long short turning point: 143.757


Pressing position: 144.694, 145.236


Support position: 143.149, 142.577


Trading strategy: bullish above 143.757, target 144.694, 145.236


Alternative strategy: bearish below 143.757, target 143.149, 142.577

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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