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USDJPY: low position moves down

2023-03-14
972
Fundamental analysis:

USD/JPY remained volatile around 133.187. The impact of the Silicon Valley Bank incident weakened, and the negative impact on the yen was not significant. However, there will be US inflation data coming out this week, and the ups and downs in interest rate adjustment expectations caused by the data are expected to continue to be the main factors influencing the US and Japan trends.

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



Brief technical analysis:

Looking at the 4-hour chart: the market is shrouded in bearish sentiment, the short-term decline may continue, the MACD indicator is in the bearish zone and continues to decline, and the RSI indicator is hovering in the bearish zone;

Resistance levels: 133.713 134.048

Support levels: 132.861 132.576

Trading strategy: bearish below 133.378, target 132.861 132.576
Alternative strategy: Bullish above 133.378, target 133.713 134.048

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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