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USDJPY: high move up
2023-08-02
743
Fundamental analysis:
USD/JPY remained volatile around 143.330. This intervention by the Bank of Japan indicates that the Bank of Japan is still not too determined to end its loose monetary policy in a short time. This has also contributed to the spread of carry trades, and the yen has made great strides to weaken.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level bulls have a strong shock and rise, and the short-term bullish sentiment is shrouded. The market bulls are constantly pulling up.
Resistance levels: 143.658 143.960
Support levels: 142.805 142.480
Trading strategy: bullish above 143.175, target 143.658 143.960
Alternative strategy: bearish below 143.175, target 142.805 142.480
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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