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USDJPY: low shock

2023-03-12
981
Fundamental analysis:

USD/JPY remained volatile around 134.776, the Bank of Japan kept its original policy unchanged, and the yen fell. Kazuo Ueda will take over as Governor of the Bank of Japan in a month. Speculation on future policy adjustments by the Bank of Japan.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum has fallen rapidly, the market as a whole is in a low and wide range of fluctuations, and there will be a downward trend in the short term.

Resistance levels: 135.158 135.409

Support levels: 134.550 134.327

Trading strategy: bearish below 134.913, target 134.550 134.327
Alternative strategy: Bullish above 134.913, target 135.158 135.409

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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