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USDJPY: Finishing move up
2023-06-13
818
Fundamental analysis:
USD/JPY remained volatile around 139.485, the Bank of Japan may keep its monetary policy unchanged this week, and the tactical weakness of the JPY against the USD and other currencies may continue.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a narrow range and slowly moves upward, the market is still bullish, and there are signs of continued upward movement in the short term, the MACD index is hovering weakly below the 0 axis, and the RSI index is hovering weakly near the 50 balance line;
Resistance levels: 139.759 139.935
Support levels: 139.304 139.157
Trading strategy: Bullish above 139.485, target 139.759 139.935
Alternative strategy: bearish below 139.485, target 139.304 139.157
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