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USDJPY: high rise
2023-06-23
721
Fundamental analysis:
USD/JPY remained volatile around 143.091. Bank of Japan review member Asahi Noguchi: It is very important that wages continue to rise rather than a one-off increase. I hope that next year’s wage growth will exceed this year. I personally think that nominal wages must rise above the Bank of Japan’s 2% inflation target.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level continues to rise in the short term, the market is still bullish, and there is a trend of continuing to move upward in the short term. The MACD indicator is moving up from the high level in the bullish area, and the RSI indicator is in the high level of the bullish area.
Resistance levels: 143.338 143.576
Support levels: 142.715 142.456
Trading strategy: Bullish above 142.960, target 143.338 143.576
Alternative strategy: bearish below 142.960, target 142.715 142.456
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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