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USDJPY: high order

2023-05-30
696
Fundamental analysis:

USD/JPY remained volatile around 140.430. As the market has now priced in expectations of further interest rate hikes by the Fed, it will be difficult for USD/JPY to continue its recent gains. Markets have now fully priced in a 25 basis point rate hike from the Fed in June or July, while rate cut expectations have also been priced in lower, eliminating the gap in views between the Fed and investors.

US dollar yen USDJPY - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum maintains shocks and moves upwards, the short-term bullish sentiment remains, the market is in the short-term adjustment of bullish highs, the MACD indicator is in the bullish area, and the RSI indicator is hovering weakly on the side of the 50 balance line;

Resistance levels: 141.045 141.337

Support levels: 140.015 139.647

Trading strategy: bearish below 140.561, target 141.045 141.337
Alternative strategy: Bullish above 140.561, target 140.015 139.647

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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