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USDJPY: high move up
2023-06-20
708
Fundamental analysis:
USD/JPY remained volatile around 141.984. The semi-annual foreign exchange report released by the U.S. Treasury Department last week showed that the United States removed Japan from the foreign exchange monitoring list. The close communication between the US and Japanese authorities is likely to be appreciated by the US, and the two countries will continue to communicate closely to stabilize the market.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level bullish momentum remains volatile and moves upward, the market’s bullish sentiment continues, and there are signs of continued upward movement in the short term. The MACD indicator is in a high-level order in the bullish zone, and the RSI indicator is in the bullish zone to maintain shocks;
Resistance levels: 142.140 142.331
Support levels: 141.691 141.510
Trading strategy: Bullish above 141.894, target 142.140 142.331
Alternative strategy: bearish below 141.894, target 141.691 141.510
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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