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USDJPY: The short sellers fell sharply
2022-09-23
1202
Fundamental analysis:
The US dollar remained volatile against the Japanese yen at around 142.313. When the global central bank withdrew its stimulus measures to fight against the surge of inflation, the Bank of Japan remained independent in maintaining ultra-low interest rates and may become the last major central bank in the world to implement negative policy interest rates.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the power of high short positions fell rapidly, and the market short positions began to enter the market. After a short period of decline, they began to fluctuate. The MACD index hovered below the 0 axis, and the RSI index was narrow at the bottom of the 50 equilibrium line;
Empty turning point: 142.482
Pressing bit: 142.964, 143.443
Support position: 141.938, 141.510
Trading strategy: 142.482 lower bearish, target 141.938, 141.510
Alternative strategy: bullish above 142.482, target 142.964, 143.443
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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