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USDJPY: Pulling up at a high level

Fundamental analysis:

The U.S. dollar against the yen remained volatile around 136.428. Kazuo Ueda, the nominee for the governor of the Bank of Japan: If the stable realization of the 2% inflation target is in sight, monetary policy can be gradually normalized. The BOJ will stop large-scale bond purchases if its 2 percent inflation target is met.

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

Brief technical analysis:

Looking at the 4-hour chart: the high-level bulls are pulling up strongly, short-term bullish sentiment emerges, the market bulls continue to rise, the MACD indicator is in the bullish area and continues to move up, and the RSI indicator is in the bullish area and continues to move up to the overbought zone.

Long-short turning point: 136.243

Suppression: 136.765, 137.104
Support: 135.879, 135.515

Trading strategy: Bullish above 136.243, target 136.765, 137.104
Alternative strategy: bearish below 136.243, target 135.879, 135.515

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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