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USDJPY: low move up
2023-01-17
1090
Fundamental analysis:
USD/JPY remained volatile around 128.457, and wholesale prices in Japan rose faster than expected in December year-on-year, adding another piece of evidence to the growing signs of inflationary pressure in the near future, which may keep the central bank under pressure to raise interest rates.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the low-level long-term dynamics continue to fluctuate and move upward, and the short-term long-term dynamics begin to gradually emerge and move upward. The MACD indicator is in the short-term area and moves upward, and the RSI indicator is in the short-term area.
Long-short turning point: 128.240
Suppression: 128.939, 129.693
Support: 127.678, 127.226
Trading strategy: Bullish above 128.240, target 128.939, 129.693
Alternative strategy: bearish below 128.240, target 127.678, 127.226
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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