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USDJPY: low move up
2023-03-17
905
Fundamental analysis:
The dollar remained volatile against the yen near 133.716, and former chief economist of the Bank of Japan Seisaku Kameda said that the new governor of the Bank of Japan, Kazuo Ueda, may expand the range of the 10-year government bond yield target after the June meeting, or may cancel the precise long-term interest rate target.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of low bulls continues to fluctuate and rise, and short-term bullish sentiment begins to emerge. The market is constantly oscillating and moving upwards. The MACD indicator is in the bearish area to maintain consolidation, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance: 134.048 134.394
Support levels: 133.234 132.888
Trading strategy: Bullish above 133.585, target 134.048 134.394
Alternative strategy: bearish below 133.585, target 133.234 132.888
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