alicegamecrypto| May 21 currency market trend watching: Technical analysis of the Japanese yen and Australian dollar

monetaryalicegamecrypto: USD/JPY

On Monday (May 20), the U.S. dollar still maintained a slight upward trend against the Japanese yen, rising 0.0% on the dayalicegamecrypto.3% closed at 156.22. The dollar was generally stable on Monday as Fed officials said they were waiting for more signs of falling inflation before starting interest rates. Fed officials weren't ready to say that inflation was moving towards the 2% target, with several calling on Monday for continued policy caution. To this end, investors prudently maintained an upward trend in trading on the USD/JPY currency pair after cautious remarks made by Fed officials. However, according to CFTC data, the yen's clearance position decreased to 126,182 in the week ending May 14, which was the third consecutive week of decline, following a 20% decline in the previous week. This shows that after two rounds of substantial intervention by the Bank of Japan in late April and early May, the momentum of the yen's decline began to weaken. At present, investors appear to be waiting for further clues to determine the path of U.S. interest rates. If there are signs that the Federal Reserve is urgent to cut interest rates, it will be a good time for the yen to reverse its decline. Technically, the USD/JPY is still in the midst of a rebound after the intervention, but the volatility has become small and cautious. Continue to pay attention to whether it can overcome the resistance of 157 above, and the area 155-154 below temporarily provides corresponding support.

Currency: Australian dollar/US dollar

On Monday (May 20), the Australian dollar closed down 0.35% against the US dollar on Monday, failing to stand firm above 0.6700, closing at 0.6667. However, as iron ore prices rose to a three-month high, gold and LME copper futures hit record highs, and the Reserve Bank of Australia's stance of maintaining higher interest rates for a longer period of time, limiting the Australian dollar's room for decline. Minutes of the Reserve Bank of Australia's May meeting will be released on Tuesday and will be key to determining the direction. If the minutes of the meeting reveal an attitude of keeping interest rates high to control inflation and falling within the target range, the Australian dollar is expected to gain support. Technical graphics, short-term Australian dollar? The dollar is in the middle of the session, and a break in the consolidation range of 0.6640 to 0.6750 will have a chance to rise to the 2024 high of 0.6838. The current preliminary support below is at 0.6620 and further at 0.6570.

Bank of China Guangdong Province Branch Wang Gang

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