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USDJPY: continued to move down

2023-09-01
719
Fundamental analysis:

The U.S. dollar remained fluctuating around 145.533 against the yen. Bank of Japan review member Toyaki Nakamura said that the yield curve control (YCC) policy adjustment in July is not part of the policy exit strategy. The adjustment to yield curve control (YCC) has not caused chaos in the market.

USDJPY - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to fluctuate downwards, the short-term decline may continue, the overall short sentiment in the market continues to move downwards, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly consolidating below the 50 equilibrium line;

Resistance levels: 145.798 145.975

Support levels: 145.359 145.197

Trading strategy: Bearish below 145.631, target 145.359 145.197
Alternative strategy: bullish above 145.631, target 145.798 145.975

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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