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USDJPY: low shock
2022-12-05
1198
Fundamental analysis:
USD/JPY remained volatile around 134.433. The Bank of Japan should evaluate the monetary policy framework and adjust its large-scale stimulus plan based on the evaluation results. That suggests the central bank is increasingly concerned about the downsides of prolonged easing. Whether the BOJ needs to adjust (ultra-loose) monetary policy will depend on the outcome of the assessment.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After the short-term dynamics continued to fluctuate and go down, there was a huge shock at the low level, and short-term short-term positions continued to move downward.
Long-short turning point: 134.561
Suppression: 135.002, 135.519
Support: 133.953, 133.512
Trading strategy: bearish below 134.561, target 133.953, 133.512
Alternative strategies: Bullish above 134.561, target 135.002, 135.519
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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