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USDJPY: high position and weak position hover
2022-10-12
1168
Fundamental analysis:
The dollar remained volatile against the yen at 145.841. Japanese Prime Minister Takeo Kishida said that he supported the ultra loose monetary policy of the Bank of Japan, despite the recent sharp decline of the yen against the dollar. Takeo Kishida hopes to work closely with Bank of Japan Governor Kuroda; It will not end his tenure ahead of schedule or put pressure on the central bank to end its negative interest rate policy.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum has maintained a narrow range of weakness and moved upward. The short-term high narrow range has been consolidated. The market bulls' sentiment remains unchanged. MACD indicators are in the consolidation and translation of bulls' regions, and RSI indicators continue to hover in the bulls' regions;
Empty turning point: 145.688
Pressing: 146.191, 146.523
Support: 145.305, 144.960
Trading strategy: bullish above 145.688, target 146.191, 146.523
Alternative strategy: bearish at 145.688, target 145.305, 144.960
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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