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USDJPY: Bears move down
2023-07-12
762
Fundamental analysis:
USD/JPY remained volatile around 140.337, and the probability of the Fed continuing to raise interest rates by 25 basis points is still high. This warning has not been lifted, and the rebound of the yen is expected to be limited.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum continues to fluctuate and move downward, the short-term decline continues to move downward, the market is shrouded in bearish sentiment, the MACD indicator is in the low position of the short area, and the RSI index is in the low position of the short area and hovers weakly;
Resistance levels: 140.812 141.085
Support levels: 140.046 139.840
Trading strategy: bearish below 140.487, target 140.046 139.840
Alternative strategy: Bullish above 140.487, target 140.812 141.085
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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