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USDJPY: low order
2022-11-30
1230
Fundamental analysis:
The dollar remained volatile around 138.699 against the yen, with the Bank of Japan an outlier as other central banks tighten policy and the 10-year term of Governor Haruhiko Kuroda, who has presided over a long period of loose policy, is due to end in April. Inflation is also at its highest level in 40 years, partly because Japan's low interest rates have pushed the yen lower.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short momentum is weakly finishing at a low level, the market as a whole is in a weak downward trend, the MACD indicator is at a low level and weakly finishing, and the MACD indicator is hovering weakly below the 50 balance line;
Long-short turning point: 138.845
Suppression: 139.492, 140.102
Support: 138.082, 137.594
Trading strategy: bearish below 138.845, target 138.082, 137.594
Alternative strategy: Bullish above 138.845, target 139.492, 140.102
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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