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USDJPY: high down
2023-04-21
887
Fundamental analysis:
USD/JPY remained volatile around 134.223 as Japan's trade deficit narrowed for a second straight month in March as fuel prices eased and import costs fell. Japan's trade deficit narrowed to 754.5 billion yen from a revised 898.1 billion yen in February. Imports rose 7.3 percent from a year earlier, the smallest increase in two years, as a stronger yen and lower prices for commodities such as oil weighed on import costs.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum has fallen sharply, the short-term decline may continue, and the market as a whole is in a bearish position; the MACD indicator is in the long-term zone and is slowly declining, and the RSI indicator is hovering around the 50 balance line;
Resistance levels: 134.572 134.837
Support levels: 133.979 133.739
Trading strategy: bearish below 134.340, target 133.979 133.739
Alternative strategy: Bullish above 134.340, target 134.572 134.837
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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