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USDJPY: oscillating down

2022-12-30
604
Fundamental analysis:
USD/JPY remained volatile around 132.967, as the Bank of Japan decided to continue controlling the yield curve, but widened the volatility range of 10-year Japanese government bond yields from the target level. The news also confused the yen bulls, causing the dollar to enter the rhythm of rebound trading against the yen for several trading days.

US dollar yen USDJPY - 4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics fluctuate downward, the short-term decline may continue, the market as a whole is in a weak position, the MACD indicator is weak on the upper side of the 0 axis, and the RSI indicator is weaker on the lower side of the 50 balance line;
Long-short turning point: 133.063
Suppression: 133.631, 134.086
Support: 132.509, 132.081
Trading strategy: bearish below 133.063, target 132.509, 132.081
Alternative strategy: Bullish above 133.063, target 133.631, 134.086

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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