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USDJPY: hovering at a high level
2023-02-23
1072
Fundamental analysis:
USD/JPY remained volatile around 134.929. The market's expectations for the Fed's terminal interest rate continued to rise, while the Bank of Japan still insisted on maintaining monetary easing, and the interest rate differential further widened, which weakened the yen.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: high short-term consolidation, the market remains weak and hovering, the short-term bullish sentiment begins to slow down, the MACD indicator is in the bullish area and the RSI indicator is hovering weakly above the 50 balance line;
Long-short turning point: 134.751
Suppression: 135.319, 135.603
Support: 134.429, 134.080
Trading strategy: Bullish above 134.751, target 135.319, 135.603
Alternative strategy: bearish below 134.751, target 134.429, 134.080
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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