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USDJPY: low recovery
2023-03-22
856
Fundamental analysis:
The dollar remained volatile against the yen near 132.464, and the market expects the Fed to keep interest rates at this level on Wednesday. The peak of the US dollar interest rate is expected to come, which seems to be relieving the pressure on the yen in terms of interest rate differentials, and the yen has once again resumed its obvious strong return posture.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After the short-term consolidation at low levels, it began to rise slowly, the market’s bullish sentiment gradually entered the market, the MACD indicator was in the bearish area, and the RSI indicator was hovering weakly near the 50 balance line;
Resistance levels: 132.876 133.327
Support levels: 131.827 131.429
Trading strategy: Bullish above 132.239, target 132.876 133.327
Alternative strategy: bearish below 132.239, target 131.827 131.429
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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