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USDJPY: the high level moves down

Fundamental analysis:

USD/JPY remained volatile around 136.526. The finance ministers of South Korea, China and Japan expressed concern over the reduction in economic exchanges between the three countries and agreed to strengthen cooperation to promote economic recovery. The finance ministers and central bank governors of the three countries agreed that although the economies of the three countries are closely related, economic and trade exchanges such as trade in goods and services have been blocked, and pointed out the necessity of strengthening cooperation to promote rapid economic recovery after the epidemic.

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

Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term momentum moves down rapidly, the market is shrouded in short-term sentiment, the short-term decline may continue, the MACD indicator is in the bullish area and moves downward, and the RSI indicator is hovering weakly on the upper side of the 50 auspicious star;

Resistance levels: 137.083 137.449

Support levels: 136.177 135.861

Trading strategy: bearish below 136.716, target 136.177 135.861
Alternative strategy: Bullish above 136.716, target 137.083 137.449

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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