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USDJPY: low volatility
2023-03-29
842
Fundamental analysis:
The dollar remained volatile around 130.836 against the yen, as fears of a full-blown banking crisis faded, weakening demand for safe-haven assets. Profits are repatriated domestically.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low level maintains a narrow range, and the market's bearish sentiment begins to emerge, but there is no sign of further downward movement overall. The MACD indicator is hovering below the 0 axis, and the RSI indicator is below the 50 balance line. Weak consolidation;
Resistance levels: 131.524 131.930
Support levels: 130.487 130.153
Trading strategy: bearish below 131.058, target 131.524 131.930
Alternative strategy: Bullish above 131.058, target 130.487 130.153
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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