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USDJPY: Narrow finishing
2022-11-04
1070
Fundamental analysis:
The dollar/yen remained volatile around 147.911. In sharp contrast to the tightening monetary policy of the Federal Reserve and the loose monetary policy of the Bank of Japan, the dollar/yen rose sharply. Under the continuous effect of the fundamental driving factor of monetary policy differences, the dollar/yen trend was still bullish, just to guard against the intervention of the Bank of Japan.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the short-term low price bull shock moves up, but it is still in range shock, and the market is weak. The MACD index is arranged near the 0 axis, and the RSI index is hovering above the 50 equilibrium line;
Empty turning point: 148.131
Pressing: 148.684, 149.225
Support: 147.433, 146.976
Trading strategy: bearish at 148.131, target 147.433, 146.976
Alternative strategy: bullish on 148.131, target 148.684, 149.225
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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