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USDJPY: high down
2023-04-26
867
Fundamental analysis:
The dollar remained volatile against the yen near 133.746, Bank of Japan Governor Kazuo Ueda: The shape of the Japanese bond yield curve is now smooth. It is appropriate to continue monetary easing through the YCC (Yield Curve Control) policy. It is extremely important that exchange rates reflect fundamentals.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics are oscillating downward, and the short-term decline may continue. The market as a whole is in a bearish trend. The MAC indicator is hovering weakly near the lower side of the 0 axis, and the RSI indicator is weaker at the lower side of the 50 balance line;
Resistance levels: 134.141 134.435
Support levels: 133.483 133.259
Trading strategy: bearish below 133.886, target 133.483 133.259
Alternative strategy: Bullish above 133.886, target 134.141 134.435
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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