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USDJPY: low volatility
2023-01-04
1004
Fundamental analysis:
USD/JPY remained volatile around 130.961, and the Bank of Japan may eventually have to raise interest rates into negative territory and end its "yield curve control," which caps 10-year yields at 0.25%, as inflation begins to spread to Japan.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum continues to fluctuate and move down, the low-level short-term bulls have signs of waiting for opportunities to enter the market, but the downward trend remains, the MACD indicator is in the short-selling area, and the RSI indicator is in the short-selling area and moves up;
Long-short turning point: 131.2799
Suppression: 131.720, 132.174
Support: 130.530, 130.097
Trading strategy: bearish below 131.2799, target 130.530, 130.097
Alternative strategies: Bullish above 131.2799, target 131.720, 132.174
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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