USD/JPY remains volatile around 146.484, and the hawkish Fed's remarks will bring resistance at 146.649. Given the lack of US economic indicators, USD/JPY moves are subject to debate from the Fed. Market sensitivity to the Fed's comments is expected to increase after a busy week on the U.S. economic calendar.
USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum has been strongly pulled up and then sorted out, the market is still bullish, and there are signs of continued upward movement in the short term, the MACD indicator is weakly finishing above the 0 axis, and the RSI indicator is hovering weakly above the 50 balance line;
Resistance level: 146.634 146.795
Support level: 146.253 146.076
Trading strategy: Bullish above 146.415, target 146.634 146.795
Alternative strategy: bearish below 146.415, target 146.253 146.076