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USDJPY: the high level moves down
2023-05-21
796
Fundamental analysis:
The dollar held steady near a six-month high against the yen on Friday, helped by rising U.S. Treasury yields, as optimism over debt-ceiling talks in Washington fueled a further rise in interest rates for longer expectations.
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 has turned sharply downward, the short-term decline may continue, the market is shrouded in short-term sentiment, and there is a trend of continued downward movement in the short-term, the MACD indicator is in the bullish area, and the RSI indicator maintains a high level of volatility and downward;
Resistance levels: 138.587 138.862
Support levels: 137.785 137.507
Trading strategy: bearish below 138.249, target 137.785 137.507
Alternative strategy: Bullish above 138.249, target 138.587 138.862
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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