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USDJPY: Move low down
2022-11-24
1127
Fundamental analysis:
The US dollar remained volatile against the Japanese yen at 139.547. Japanese Prime Minister Takeo Kishida said that the weakness of the yen increased the profits of exporters. However, due to the rising import costs, it damaged the interests of consumers and some enterprises, so he did not comment on the foreign exchange rate.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the short sellers' power has declined at a low level, and the short-term decline may continue. The market as a whole is in a weak position. The MACD indicator is in a weak position below the axis 0, and the RSI indicator is in a weak position below the 50 equilibrium line;
Empty turning point: 139.988
Pressing: 140.630, 141.329
Support: 138.835, 138.288
Trading strategy: bearish at 139.988, target 138.835, 138.288
Alternative strategy: bullish above 139.988, target 140.630, 141.329
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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