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USDJPY: high volatility

Fundamental analysis:

The dollar remained volatile against the yen near 135.976 after Tokyo's February inflation data surpassed the Bank of Japan's target for the ninth straight month. If the new president, Kazuo Ueda, tightens monetary policy after taking office, it may stimulate the resurgence of speculative trading in the value of the yen.

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

Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term dynamics maintain shocks and move down slowly, the market as a whole is in a high-level downward trend, the MACD indicator is hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;

Resistance levels: 136.257 136.587

Support levels: 135.526 135.237

Trading strategy: Bullish above 135.857, target 136.257 136.587
Alternative strategy: bearish below 135.857, target 135.526 135.237

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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