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USDJPY: oscillating down
2023-07-27
839
Fundamental analysis:
USD/JPY remained volatile around 140.227. The Japanese government kept its overall economic assessment for July unchanged, predicting that the economy will recover at a moderate pace, raising views on public investment and business sentiment.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term momentum remains volatile and downward, and the short-term decline may continue. The overall bearish sentiment in the market is shrouded. The MACD indicator is in the bullish area and moves down to hover around the 0 axis, and the RSI indicator is below the 50 balance line.
Resistance levels: 140.859 141.258
Support levels: 139.860 139.523
Trading strategy: bearish below 140.472, target 139.860 139.523
Alternative strategy: call above 140.472, target 140.859 141.258
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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