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USDJPY: Bulls move up
2023-09-05
494
Fundamental analysis:
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
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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