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USDJPY: oscillating upward

2022-12-28
607
Fundamental analysis:
USD/JPY remained volatile around 133.444. The Bank of Japan's unexpected adjustment of the long-term interest rate ceiling has been closely watched by the market. The market once regarded it as a harbinger of Japan's policy tightening. This unexpected adjustment of the policy has a strong sense of "self-help" to stabilize the market; secondly, it is conducive to alleviating the liquidity problem of Japanese government bonds.

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



Brief technical analysis:
The 4-hour chart: the long-term momentum maintains a narrow range and moves slowly upwards, short-term bullish sentiment emerges, the market bulls continue to climb slowly, the MACD indicator is in the short-term area and moves up to the lower side of the 0 axis, and the RSI indicator is weak above the 50 balance line tidy;
Long-short turning point: 133.204
Suppression: 133.885, 134.313
Support: 132.749, 132.388
Trading strategy: Bullish above 133.204, target 133.885, 134.313
Alternative strategy: Bearish below 133.204, target 132.749, 132.388

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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