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USDJPY: Bulls up
2023-08-09
749
Fundamental analysis:
USD/JPY remained volatile around 143.227. The Bank of Japan emphasized that with inflation at a 40-year high, sustainable wage growth is a prerequisite for lifting large-scale monetary stimulus policies. Therefore, global financial markets are extremely concerned about wage trends in Japan.
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 upward, the short-term bullish sentiment remains, the bulls in the market continue to rise, the MACD indicator hovers in the bullish zone, and the RSI indicator maintains consolidation in the bullish zone;
Resistance levels: 143.662 143.942
Support levels: 142.947 142.615
Trading strategy: Bullish above 143.227, target 143.662 143.942
Alternative strategy: bearish below 143.227, target 142.947 142.615
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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