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USDJPY: high volatility
2023-04-25
806
Fundamental analysis:
USD/JPY remained volatile around 134.340. The market is expected to maintain the ultra-loose policy stance of the Bank of Japan this week, which has little impact on USD/JPY. In the future, we need to pay attention to the economic data of the United States and Japan, as well as the monetary policy tendency of the Federal Reserve.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high short-term volatility, short-term momentum to enter the market, and there are signs of continued retracement in the short term, the MACD indicator is hovering above the 0 axis, and the RSI indicator is hovering near the 50 balance line;
Resistance levels: 134.572 134.837
Support levels: 133.979 133.739
Trading strategy: bearish below 134.340, target 133.979 133.739
Alternative strategy: Bullish above 134.340, target 134.572 134.837
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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