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USDJPY: High position narrow range finishing
2022-10-04
1063
Fundamental analysis:
The dollar remained volatile against the yen at 144.577. Japanese Prime Minister Takeo Kishida said he would seek benefits from the weak yen and return it to the public. The weak yen will be used to strengthen the economic structure. The consumption target of inbound tourists is 5 trillion yen.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the high position weak position narrow range consolidation and translation, the market short power has signs of waiting for an opportunity to enter the market, the MACD index hovers on the upper side of the 0 axis, and the RSI index is in the weak position consolidation near the 50 equilibrium line;
Empty turning point: 144.648
Pressing position: 145.122, 145.488
Support position: 144.213, 143.867
Trading strategy: 144.648 lower bearish, target 144.213, 143.867
Alternative strategy: bullish on 144.648, target 145.122, 145.488
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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