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USDJPY: high order
2023-08-29
520
Fundamental analysis:
USD/JPY remained volatile around 146.541, the Fed's monetary policy is still very hawkish, and of course the Bank of Japan is doing its best to keep interest rates low, which is fatal to the currency. A deeper correction could be in the cards for the US-Japan pair, but that's not necessarily what's being sought at the moment.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level is maintained in the short term, the market’s bullish sentiment has weakened, but the upward trend remains, the MACD indicator is in the high level of the bullish zone, and the RSI indicator is hovering weakly on the side of the 50 balance line;
Resistance levels: 146.760 146.974
Support levels: 146.198 145.979
Trading strategy: Bullish above 146.418, target 146.760 146.974
Alternative strategy: bearish below 146.418, target 146.198 145.979
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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