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USDJPY: Move up the low position

2022-11-10
531
Fundamental analysis:

The US dollar remained volatile against the Japanese yen at 146.415. The yield of the overnight 10-year US government bond fell to 4.121% and the two-year yield was 4.651%. The general decline of the US dollar boosted the recovery of the Japanese yen. It is also rumored that the Japanese government has strengthened its intervention in the yen exchange rate in the form of selling US debt.



USD and JPY - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the low position and narrow amplitude shocks slowly rise, the short-term bull power starts to wait for the opportunity to enter the market and slowly pull up, the market bull sentiment starts to emerge, the MACD indicator is in the short position and moves up, and the RSI indicator is in the weak position below the 50 equilibrium line;


Empty turning point: 146.272


Pressing: 146.775, 147.206


Support: 145.901, 145.480


Trading strategy: bullish above 146.272, target 146.775, 147.206


Alternative strategy: bearish at 146.272, target 145.901, 145.480

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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