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USDJPY: wide range shock
2023-01-31
1042
Fundamental analysis:
USD/JPY remained volatile around 130.249. Bank of Japan Governor Haruhiko Kuroda: I believe that by continuing the current easing policy, it is possible to achieve the 2% inflation target while achieving wage growth. The current inflation is caused by high import prices. Sustainable inflation will take time, and it is important to firmly support the economy now.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term maintains a wide range of volatility, the market is shrouded in bullish sentiment, and the bullish momentum continues to move upward. The MACD indicator is weakly finishing near the 0 axis, and the RSI indicator is hovering weakly above the 50 balance line;
Long-short turning point: 130.249
Suppression: 130.804, 131.144
Support: 129.909, 129.580
Trading strategy: Bullish above 130.249, target 130.804, 131.144
Alternative strategy: bearish below 130.249, target 129.909, 129.580
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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