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USDJPY: high rise
2023-04-18
951
Fundamental analysis:
USD/JPY remained volatile around 134.317 The dollar climbed to a one-month high against the yen as traders expected the Federal Reserve to raise interest rates again, while the Bank of Japan would stick to its loose monetary policy.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum fluctuates and rises at a high level, the short-term bullish sentiment remains, the bulls in the market continue to rise, the MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is in the bullish zone and maintains a narrow range;
Resistance levels: 134.748 134.997
Support levels: 134.130 133.906
Trading strategy: Bullish above 134.317, target 134.748 134.997
Alternative strategy: bearish below 134.317, target 134.130 133.906
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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