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USDJPY: low level oscillation

2022-11-15
572
Fundamental analysis:

The US dollar remained volatile against the Japanese yen at 139.863. Bank of Japan Governor Kuroda said that Japan's consumer inflation rate will accelerate to about 3% in this fiscal year, but with the decline of global commodity prices and the reduction of inflation pressure driven by import costs, it will slow to about 1.5% next year.


USD and JPY - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that after the low short-term shock moves up and then retreats when it is blocked, the market bearish sentiment remains, and the short term or tangled low wide shock, MACD index is in the short position area and moves up, while RSI index is in the short position area and hovers in the weak position;


Empty turning point: 140.117


Pressing: 140.717, 141.299


Support: 139.183, 138.540


Trading strategy: bearish at 140.117, target 139.183, 138.540


Alternative strategy: bullish on 140.117, target 140.717, 141.299

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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