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USDJPY: low level oscillation
2022-10-28
1102
Fundamental analysis:
The dollar remained volatile against the yen at 146.220, and Japanese officials remained tight lipped about whether to publicly confirm that they would intervene for a second time to defend the yen. The yen rose sharply against the US dollar to about 146. Last week, the yen fell below the 150 day level against the dollar, the lowest level since August 1990.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of short positions in the market remains volatile and downward, while the low positions remain volatile for a short time. The short positions in the market remain unchanged. The MACD index is at the low level in the short positions area, and the RSI index is at the bottom of the 50 equilibrium line;
Empty turning point: 146.405
Pressing: 146.886, 147.381
Support: 145.781, 145.272
Trading strategy: bearish at 146.405, target 145.781, 145.272
Alternative strategy: bullish above 146.405, target 146.886, 147.381
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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