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USDJPY: High level shock retreat

2022-09-15
434
Fundamental analysis:

The dollar remained volatile against the yen at 143.056. The Bank of Japan conducted exchange rate review in the foreign exchange market, which was considered as a precursor to intervention in the foreign exchange market. Later, the yen further rebounded from the closely watched 145 level against the dollar and broke through the 144 level.


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




Technical analysis:


The 4-hour chart shows that the power of high short positions is fluctuating back, the market as a whole is in range shock, short positions enter slowly, MACD indicators hover on the top of axis 0, and RSI indicators are in the weak consolidation near the 50 equilibrium line;


Empty turning point: 143.298


Pressing position: 143.844, 144.458


Support position: 142.533, 142.065


Trading strategy: 143.298 lower bearish, target 142.533, 142.065


Alternative strategy: bullish above 143.298, target 143.844, 144.458

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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