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USDJPY: low move up

Fundamental analysis:

USD/JPY remained volatile around 134.790. On May 5, the Japan Meteorological Agency held a press conference on the earthquake that occurred in the Noto area that day to update the relevant situation of the earthquake level. According to the Japan Meteorological Agency, at about 14:42 local time in Japan on the same day, an earthquake with a tentative value of 6.5 on the Richter scale occurred in the Noto area of ​​Ishikawa Prefecture, with a maximum intensity of 6.

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

Brief technical analysis:

Looking at the 4-hour chart: the momentum of low-level bulls maintains shocks and pulls up, the short-term bullish sentiment is shrouded, the market bulls continue to move up, the MACD indicator is in the short area, and the RSI indicator is hovering weakly near the 50 balance line;

Resistance levels: 135.044 135.298

Support levels: 134.411 134.149

Trading strategy: bullish above 134.656, target 135.044 135.298
Alternative strategy: bearish below 134.656, target 134.411 134.149

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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