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USDJPY: low volatility

2023-03-16
800
Fundamental analysis:

USD/JPY remained volatile around 133.387, and the Bank of Japan may delay adjusting monetary policy in view of the turbulence caused by the Silicon Valley banking crisis in financial markets. Any adjustment to the BOJ's ultra-dovish stance could be delayed by as much as a year.

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



Brief technical analysis:

4-hour chart view: short-term dynamics fluctuate strongly and fall, short-term or entangled in low order, MADC index is in the short area, and RSI index is in weak order below the 50 balance line;

Resistance levels: 133.925 134.296

Support levels: 133.059 132.740

Trading strategy: bearish below 133.585, target 133.059 132.740
Alternative strategy: Bullish above 133.585, target 133.925 134.296

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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