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USDJPY: Bulls emerge
2023-04-28
1011
Fundamental analysis:
USD/JPY remained volatile around 133.887 as new Bank of Japan Governor Kazuo Ueda indicated he was in no rush to change policy. This week's BOJ meeting, which ends on Friday, is the first under his leadership.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After the short-term narrow range, the bullish momentum emerged, and the short-term upward movement, the market bullish sentiment began to slowly enter the market, the MACD indicator remained in the bearish area and maintained a slow upward movement, and the RSI indicator hovered weakly near the 50 balance line;
Resistance levels: 134.060 134.218
Support levels: 133.591 133.400
Trading strategy: bullish above 133.780, target 134.060 134.218
Alternative strategy: bearish below 133.780, target 133.591 133.400
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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