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USDJPY: Bulls move up

Fundamental analysis:

USD/JPY remained volatile around 1343.212, and with lingering concerns about the U.S. banking sector, downward pressure on Japanese and global interest rates and the dollar will continue, albeit at a more gradual pace.

US dollar yen USDJPY - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the low-level bullish momentum remains volatile and moves upward, the market is shrouded in bullish sentiment, and there is a trend of continuing to move upward in the short term. The MACD indicator is hovering in the bearish area, and the RSI indicator is finishing below the 50 balance line;

Resistance levels: 134.515 134.789

Support levels: 133.764 133.439

Trading strategy: Bullish above 134.089, target 134.515 134.789
Alternative strategy: bearish below 134.089, target 133.764 133.439

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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