trusted trading apps malaysia–HXFXglobal reminds you:
The Fed May Start To Shrink Its Balance Sheet In May, USDJPY Skyrocketed
Several Fed officials support the start of a reduction in the balance sheet in May, and the Fed is increasingly hawkish on tightening.
【Operation suggestion】
Investors can bargain hunt near the current price, Target 124.30 and Stop-Loss by 123.65.
【Fundamentals】
Analysts expect the yen to continue to fall as the Bank of Japan’s stance of continued easing is clear, unlike other countries that have begun to tighten. Recently, a number of Fed officials have publicly stated that they are open to raising interest rates by 50 basis points in May, and they even support the start of a reduction in the balance sheet in May. The Fed’s increasingly hawkish stance on tightening has brought momentum to the dollar index. Overall, the probability of the USDJPY maintaining a volatile upward trend in the short-term is high.
【Technical】
In the 60-minute level chart, (5,10,20MA) three moving averages are arranged in a long position, the MACD bullish strength is weak but still exists, the KD has signs of gold cross again near 80. Looking at the above indicators, the USDJPY maintain a bullish trend in the short-term, and investors are advised to seize the opportunity to bargain hunting.
*Information above belongs to 3rd party media comments, can only be used for references and doesn’t represent our platform’s opinion. Investors should maintain sole-determination, self-evaluation required and be responsible for their own action.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.
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