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USDJPY: bulls pull up
2023-02-16
1004
Fundamental analysis:
USD/JPY remained volatile around 134.123. According to Nikkei, a parliamentary hearing may be held on February 24. Fumio Kishida recently stressed that the next central bank chief will need to possess "global communication skills" and be able to coordinate closely with global counterparts.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum continues to rise, the short-term bullish sentiment continues, the overall bullish momentum in the market continues to move upward, the MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is in the bullish zone.
Long-short turning point: 133.931
Suppression: 134.488, 134.859
Support: 133.579, 133.250
Trading strategy: Bullish above 133.931, target 134.488, 134.859
Alternative strategy: bearish below 133.931, target 133.579, 133.250
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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