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USDJPY: shock moves up

2022-12-27
575
Fundamental analysis:
The U.S. dollar remained volatile near 132.857 against the yen. The minutes of the Bank of Japan's policy meeting showed that some policymakers of the Bank of Japan called for attention to the possible impact on the market and household mortgage interest rates when exiting ultra-low interest rates in the future. While there is no immediate need to adjust monetary policy, the BOJ must be mindful of the side effects of prolonged easing and examine the possible impact of higher inflation on wages and household spending "without prejudging". Markets are closed on Monday for Christmas.

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



Brief technical analysis:
Looking at the 4-hour chart: the low-level bullish momentum maintains a narrow range and moves up, the market is bullish, the MACD indicator is in the short area and moves up, and the RSI indicator is hovering below the 50 balance line;
Long-short turning point: 122.642
Suppression: 133.244, 133.685
Support: 132.228, 131.800
Trading strategy: Bullish above 122.642, target 133.244, 133.685
Alternative strategy: bearish below 122.642, target 132.228, 131.800

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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