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USDJPY: high order

Fundamental analysis:

USD/JPY remained volatile around 136.160. Bank of Japan nominee Shinichi Uchida: Financial stability is very important to the effect of monetary easing policies. We will implement policies flexibly. Due to long-term monetary stimulus, various side effects are emerging. I Hope to achieve 2% inflation target during my 5 year term.

US dollar yen USDJPY - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the high level maintains a narrow range of shocks and retracements in the short term, the market's upward trend remains, the MACD indicator is in the long-term area and the RSI indicator is hovering above the 50 balance line;

Long-short turning point: 136.094

Suppression: 136.643, 136.997
Support: 135.715, 135.373

Trading strategy: Bullish above 136.094, target 136.643, 136.997
Alternative strategy: bearish below 136.094, target 135.715, 135.373

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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