Ultima MarketsMarket analysis: The US and Japan have rebounded rapidly, but the moving average has decided to go against it...

todayUltima Markets Bringing you 2024year 1month 4Japanese yenIn depth analysis.

Fundamental points

• geopolitical tensions Iran's sudden chain of explosions, at least103Human death,188Human injury. This is one of the deadliest attacks in Iranian history. Iran stated that the attack was aimed at punishing its stance on Israel. Geopolitical tensions have led to a resurgence of short-term risk aversion.
• Policy differences drive the yen：2024In, the market expects the Federal Reserve to cut interest rates, while the Bank of Japan may end its negative interest rate policy. The narrowing of the interest rate spread between the two will effectively suppress the motivation of carry traders and may drive a mild appreciation of the yen.
  

technical analysis

Daily chart analysis

(USD/JPY daily chart, sourceUltima Markets MT4）

• Random oscillation indexAlthough the indicator issued a bullish signal yesterday, it was not a signal sent in the oversold area, implying that bullish positions are only short-term gains and may not necessarily constitute a trend upward trend. We still need to wait for the indicators to break through50Only the median line can confirm the bullish trend.
• 17Daily moving averageExchange rate since last year11month14After the daily downward trend, blue17The daily moving average forms the moving resistance level. During the Asian session, the exchange rate was once again suppressed and declined. Until the blue moving average was broken through, it is still not easy to predict the arrival of a bullish trend.
  

1Hour chart analysis

USD/JPY1Hour chart, sourceUltima Markets MT4）

• Random oscillation indexThe indicator sends a bearish signal in the overbought area, followed by a rapid decline, indicating that the current bearish position has the upper hand and is worth seeking short-term short selling opportunities for traders.
• Building top structureThe USD/JPY formed a top structure (rectangular area) yesterday and then fell to blue17In the vicinity of the cyclical moving average, it is worth looking for intraday short selling opportunities after a short-term rebound.
  

Trading CentralHub Line Indicators

USD/JPY30Minute chart, sourceUltima Markets APP）

• according toUltima Markets APPInTradingCentralHub line indicators, central price range for the day143.45，
• 143.45Upward bullish, first goal143.70Second objective144.00
• 143.45Under bearish, first target142.80Second objective142.50
  

Disclaimers

The comments, news, research, analysis, pricing, and other information contained in this article can only be considered as general market information and are provided solely to assist readers in understanding the market situation and do not constitute investment advice.UltimaMarketsReasonable measures have been taken to ensure the accuracy of the data, but the accuracy of the data cannot be guaranteed and can be changed at any time without notice.UltimaMarketsWe will not be responsible for any losses or losses (including but not limited to any loss of profits) that may arise from the direct or indirect use or reliance on such information.