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USDJPY: multi head high level finishing
2022-08-30
1100
Fundamental analysis:
The USD / JPY fluctuated around 138.665. The policy differences between the Federal Reserve and the Bank of Japan will further expand the US Japan interest rate difference, which may drive the USD / JPY to reach a 24-year high of 139.38. The US short-term bond yield kept rising, and the two-year US bond yield remained near the two-month high.
US dollar and Japanese yen USDJPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls' power maintains the high-level consolidation, and in the short term, the high-level weakness will linger. The MACD indicator moves upward in the bull region, and the RSI indicator hovers below the 80 equilibrium line in the high overbought area;
Long and short turning point: 138.410
Pressing position: 139.061, 139.485
Support position: 137.968, 137.486
Trading strategy: bullish above 138.410, target 139.061, 139.485
Alternative strategy: bearish below 138.410, target 137.968, 137.486
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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