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USDJPY: Uptrend at a high level
2023-04-20
1010
Fundamental analysis:
USD/JPY remained volatile around 134.690. The Bank of England and the Reserve Bank of Australia are also considered to be hawkish or more hawkish than the Bank of Japan. The Bank of Japan is said to be cautious about adjusting the government bond yield curve control in April. The Bank of Japan is said to see heightened uncertainty in the wake of the banking crisis.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is fluctuating upwards at a high level, the short-term bullish sentiment remains, the bullish momentum in the market continues to rise, the MACD indicator is in the bullish zone, and the RSI indicator is in the bullish zone and hovering weakly;
Resistance levels: 134.972 135.213
Support levels: 134.312 134.047
Trading strategy: bullish above 134.554, target 134.972 135.213
Alternative strategy: bearish below 134.554, target 134.312 134.047
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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