CM Trade

Download APP to receive bonus


USDJPY: hovering at a high level

Fundamental analysis:

The U.S. dollar against the yen remained volatile around 136.245. Bank of Japan nominee Kazuo Ueda: The Bank of Japan needs to carefully explain its policies to the public. The BOJ bases its monetary policy on Japan's trend inflation rate being positive but below 2%. A weaker yen helps global businesses and domestic spending.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term bullish momentum has risen and hovered at a high level, the market as a whole has begun to consolidate, and the short-term bullish sentiment has begun to calm down.

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar