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USDJPY: Multi head high position up
2022-10-19
1127
Fundamental analysis:
The US dollar remained volatile against the Japanese yen at 149.223. Japanese Finance Minister Junichi Suzuki warned that Japan would take appropriate and decisive actions to combat excessive exchange rate fluctuations driven by speculators, suggesting that market intervention might be carried out after the yen fell to a new 32 year low.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum remains at a high level and slowly moves upward. The short-term bullish sentiment continues. The market bulls' momentum continues to move upward. The MACD indicator hovers at a high level in the bulls' area, and the RSI indicator is located near the 80 equilibrium line in the overbought area;
Empty turning point: 149.076
Pressing: 149.589, 149.967
Support: 148.747, 148.419
Trading strategy: bullish above 149.076, target 149.589, 149.967
Alternative strategy: 149.076 lower bearish, target 148.747, 148.419
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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