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USDJPY: High level vibration
2022-10-13
1134
Fundamental analysis:
The USD/JPY remained volatile around 146.897. The Bank of Japan may not defend a certain level of JPY, but try to slow the rising speed of USD/JPY by defending at a higher level than before. The Bank of Japan has also noted the increase in global macro level volatility, which is now a greater driving force for potential further intervention, and its driving force is higher than the volatility of any individual currency.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum has maintained a good momentum of shock and upward movement. The short-term bullish mood has been shrouded, and the market has further moved upward. The MACD index hovers at a high level in the bulls' area, and the RSI index hovers at a weak point near the 80 equilibrium line in the high overbought area;
Empty turning point: 145.752
Pressing: 147.239, 147.605
Support: 146.450, 146.156
Trading strategy: bullish above 145.752, target 147.239, 147.605
Alternative strategy: 145.752 lower bearish, target 146.450, 146.156
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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