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USDJPY: high rise
2023-06-18
698
Fundamental analysis:
USD/JPY remained volatile around 141.787, and the Bank of Japan: If necessary, it will not hesitate to increase easing. Because of the conduction effect, the CPI has recently been around 3.5%. Inflation expectations remained largely unchanged. Core CPI is likely to trend towards the median in FY2023. The year-on-year growth rate of CPI has slowed down compared with before. Maintain assessment of Japan's economy. The meeting passed the interest rate resolution 9 to 0.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the high level is rising strongly, the short-term bullish sentiment continues, the bulls in the market are rising, the MACD indicator is in the bullish zone and the RSI indicator is in the bullish zone and oscillating;
Resistance levels: 141.979 142.140
Support levels: 141.516 141.316
Trading strategy: Bullish above 141.691, target 141.979 142.140
Alternative strategy: bearish below 141.691, target 141.516 141.316
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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