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USDJPY: highs down
2023-04-13
905
Fundamental analysis:
USD/JPY remained volatile around 133.132. The sharp contrast between the Fed’s aggressive monetary policy tightening cycle and the Bank of Japan’s ultra-loose policy made the USD weak and volatile, and the JPY fell to a new low in nearly four weeks.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of high-level short positions has fallen rapidly, and the market is shrouded in short-term sentiment. In the short term, it will continue to move downward.
Resistance levels: 133.514 133.766
Support levels: 132.907 132.671
Trading strategy: bearish below 133.262, target 133.514 133.766
Alternative strategy: Bullish above 133.262, target 132.907 132.671
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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