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USDJPY: Bulls rally
2023-03-30
998
Fundamental analysis:
The dollar remained volatile against the yen at around 132.823. The yen weakened against G10 currencies and other Asian currencies in early trading. Stock markets in most regions and U.S. stock index futures rose, fueling risk sentiment and weakening the safe-haven appeal of the yen.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum remains volatile and rising, short-term bullish sentiment emerges, the bulls in the market are constantly pulling up, the MACD indicator is in the bullish zone and is slowly rising, and the RSI indicator is in the bullish zone and remains hovering;
Resistance levels: 133.193 133.537
Support levels: 132.254 131.950
Trading strategy: bullish above 132.598, target 133.193 133.537
Alternative strategy: bearish below 132.598, target 132.254 131.950
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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