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USDJPY: low level oscillation
2022-11-18
1241
Fundamental analysis:
The US dollar remained volatile against the Japanese yen at 140.174. Junichi Suzuki, the Japanese Finance Minister, said that the specific monetary policy was decided by the Bank of Japan. It is important that the government and the Bank of Japan closely exchange views.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that there are signs of slow upward movement after the low level narrow range shock, short-term bull power starts to show signs of opportunistic entry, MACD index is in the short area and moves upward, and RSI index is in the weak area near the 50 equilibrium line;
Empty turning point: 139.814
Pressing: 140.928, 141.651
Support: 139.090, 138.328
Trading strategy: bullish on 139.814, target 140.928, 141.651
Alternative strategy: bearish at 139.814, target 139.090, 138.328
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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