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USDJPY: Bulls climb higher
2023-06-14
763
Fundamental analysis:
The U.S. dollar against the yen remained volatile around 140.128. Bank of Japan Governor Kazuo Ueda: The actual inflation rate reaching 2% will bring price expectations to 2%. The Bank of Japan proposed to purchase unlimited 5-10-year Japanese government bonds at a fixed interest rate starting from June 14.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is strong, the market is still bullish, and there are signs of continued upward movement in the short term. The MACD indicator is in the bullish zone and the RSI indicator is in the bullish zone to maintain shocks;
Resistance levels: 140.367 140.521
Support levels: 139.974 139.803
Trading strategy: Bullish above 140.128, target 140.367 140.521
Alternative strategy: bearish below 140.128, target 139.974 139.803
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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