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USDJPY: short high-order move down
2022-08-26
1172
Fundamental analysis:
The US dollar fluctuated around 136.577 against the Japanese yen. Economists said that inflation needs to remain at 3% or higher for at least half a year before policy changes can occur. But this is not their basic situation. Japanese forecasters predict that inflation will peak at 2.5% in the last three months of 2022 and then reach 1% by the end of next year. ".
US dollar and Japanese yen USDJPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short dynamic high-level narrow range consolidation slowly descends, and the market short sentiment begins to emerge. The MACD index is in the long region, and the maintenance consolidation can still go down to the 0 axis, and the RSI index is in the narrow range consolidation near the 50 equilibrium line;
Long and short turning point: 136.577
Pressing position: 136.994, 137.454
Support position: 136.085, 135.732
Trading strategy: bearish below 136.577, target 136.085, 135.732
Alternative strategy: bullish above 136.577, target 136.994, 137.454
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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