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USDJPY: highs down
2023-03-10
928
Fundamental analysis:
USD/JPY remained volatile around 136.122. The House of Representatives of the Japanese Diet approved Kazuo Ueda as the new governor of the Bank of Japan, and Shinichi Uchida and Ryozo Himino as the new deputy governors of the Bank of Japan. The market generally believes that he can take office successfully, thanks to his In-depth knowledge and experience of monetary policy as an academic and former member of the Bank of Japan Policy Committee.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum fluctuates rapidly downward, the short-term decline may continue, the market as a whole is in a weak position and moves downward, the MACD indicator is in the bullish area and moves downward, and the RSI indicator is hovering below the 50 balance line;
Resistance levels: 136.213 136.429
Support levels: 135.866 135.650
Trading strategy: bearish below 136.213, target 135.866 135.650
Alternative strategy: Bullish above 136.213, target 136.213 136.429
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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