USD/JPY:
The epidemic in Japan has reached a new high. The Japanese government has been focusing on improving the Japanese economy, resulting in a single-day confirmed case of up to 250,000 in Japan. Japan’s healthcare system is now in a state of collapse. In addition, the hawkish news released by the Federal Reserve once again prompted the dollar to continue to rise.
On the D1 chart, the USD/JPY has officially returned to the upward trend, and the price is expected to hit a new high. On the other hand, it can be seen that the price has risen directly after hitting the key support level below, so it can continue to be bullish.
The H1 chart can also clearly see that the current trend is in an uptrend, and the price remains above the moving average. Although the price of the RSI part is already in an overbought state, there is still a very large positive space. If you are an investor seeking stability, you can wait for the price to correct before entering the market.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
