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USDJPY: shock moves up
2022-12-07
1106
Fundamental analysis:
USD/JPY remained volatile around 137.020. Japanese Finance Minister Shunichi Suzuki: No comment on daily exchange rate trends. The stable trend of foreign exchange is very important. Will continue to pay close attention to the foreign exchange market. Foreign exchange rates should be determined by the market. Our position on responding appropriately to foreign exchange volatility has not changed. Foreign exchange fluctuations have a negative impact on the economy.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the low-level bullish momentum keeps oscillating and moving up, and there are signs of continued upward pull-up after the short-term narrow-range consolidation. The MACD indicator is in the short-term area and keeps oscillating and moving up to the 0 axis. The RSI indicator is in a weak order above the 50 balance line;
Long-short turning point: 138.796
Suppression: 137.571, 138.179
Support: 136.248, 135.747
Trading strategy: Bullish above 138.796, target 137.571, 138.179
Alternative strategy: bearish below 138.796, target 136.248, 135.747
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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