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USDJPY: slow down
2023-07-26
784
Fundamental analysis:
USD/JPY remains volatile around 140.927, and any adjustment or removal of the Bank of Japan's yield curve control (YCC) will not change the yen market landscape, as it is unlikely to signal an "appropriate" tightening cycle.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum maintains a narrow range and slows down, and the short-term decline may continue. In the overall bearish trend of the market, the MACD indicator is in the bullish area and slowly moves down, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance levels: 141.482 141.919
Support levels: 140.325 139.860
Trading strategy: bearish below 141.017, target 140.325 139.860
Alternative strategy: Bullish above 141.017, target 141.482 141.919
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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