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USDJPY: high volatility

2023-06-22
724
Fundamental analysis:

USD/JPY remained volatile around 141.868. Bank of Japan Governor Kazuo Ueda said that the Bank of Japan will patiently maintain loose monetary policy in order to stably and sustainably achieve the 2% price target while achieving wage growth.

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



Brief technical analysis:

Looking at the 4-hour chart: high short-term fluctuations within a narrow range, the market as a whole is in a bullish trend, and there are signs of continued volatility and upward movement in the short term.

Resistance: 142.076 142.313

Support levels: 141.527 141.324

Trading strategy: Bullish above 141.758, target 142.076 142.313
Alternative strategy: bearish below 141.758, target 141.527 141.324

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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