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USDJPY: the high level moves down
2023-06-01
772
Fundamental analysis:
The U.S. dollar remained volatile near 139.525 against the yen. The Japanese government plans to double its financial support for start-up companies in innovative technologies such as space development and artificial intelligence. - About double the target of 50 billion yen. The Japanese cabinet will formally decide in early June at the earliest, and the amount of the increase will come from supplementary budget funds.
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 maintains a ladder-style shock and slowly descends, and the short-term decline may continue. The market as a whole is in a short-term short-term trend. The MACD indicator maintains hovering around the 0 axis, and the RSI indicator is in a weak position below the 50 balance line;
Resistance levels: 139.942 140.382
Support levels: 138.933 138.566
Trading strategy: bearish below 139.525, target 138.933 138.566
Alternative strategy: Bullish above 139.525, target 139.942 140.382
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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