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USDJPY: High position narrow range finishing
2022-09-30
1173
Fundamental analysis:
The US dollar remained volatile against the Japanese yen at 144.398. As Japan gradually consumed the most liquid assets, the threshold for the Japanese government to intervene in the foreign exchange market will become higher and higher. It is expected that the Japanese government can intervene in the foreign exchange market for about 4 to 10 times by selling liquid assets.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the short-term bull rally, the high position has been adjusted and shifted in a narrow range, and the market bearish power has begun to show signs of waiting for opportunities to enter the market. The MACD indicator is at the top of the 0 axis, and the RSI indicator is at the top of the 50 axis, and the online side is at the bottom;
Empty turning point: 144.480
Pressing position: 144.846, 145.221
Support position: 143.956, 143.600
Trading strategy: bearish at 144.480, target 143.956, 143.600
Alternative strategy: bullish above 144.480, target 144.846, 145.221
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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