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USDJPY: High level vibration moves up
2022-10-18
1104
Fundamental analysis:
The dollar remained volatile against the yen at 149.022. Japanese officials may not set the bottom line for taking action again, but may pay attention to the speed of economic decline. 150 is the key psychological level of the Japanese people. A breakthrough of 150 in the United States and Japan may bring pressure on the government to take action again.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum remains volatile and slowly rising, the market's bullish sentiment continues, and there is no sign of the bulls weakening. The MACD index is at the high level of the bulls' region, and the RSI index is at the 80 equilibrium line of the overbought area;
Empty turning point: 148.529
Pressing: 149.430, 149.817
Support: 148.556, 148.152
Trading strategy: bullish above 148.529, target 149.430, 149.817
Alternative strategy: bearish at 148.529, target 148.556, 148.152
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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