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USDJPY: short-term huge shock
2023-04-23
872
Fundamental analysis:
The U.S. dollar against the yen remained volatile around 134.210. The Bank of Japan: Due to market tensions, future development prospects are highly uncertain. The Bank of Japan’s external credit investment has increased slightly. Banks have improved their resilience to the risk of rising interest rates. Japanese banks also have a sufficient capital base to properly carry out financial intermediation activities in a tightened environment.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: The short-term dynamics maintain the shock and move down and then rise rapidly in the short term. The market’s bearish sentiment remains, and there are signs of continued downward movement in the short term. The MACD indicator is hovering weakly above the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line. ;
Resistance levels: 134.572 134.837
Support levels: 133.979 133.739
Trading strategy: bearish below 134.340, target 133.979 133.739
Alternative strategy: Bullish above 134.340, target 134.572 134.837
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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