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USDJPY: Bulls rally

2022-12-06
1026
Fundamental analysis:
USD/JPY remained oscillating around 136.764. Bank of Japan Governor Takatoshi Ito: I see the possibility of achieving the 2% inflation target in 2023. Don't think the inflation target has to change from 2%. A 2% inflation target could be an acceptable range. We may have an inflation target as a medium-term goal.

US dollar yen USDJPY - 4-hour K-line chart shows:




Brief technical analysis:
Looking at the 4-hour chart: the momentum of low bulls continues to rise, the short-term bullish sentiment is good, the market bulls continue to rise, the MACD indicator is in the short zone and continues to fluctuate and rise, and the RSI indicator is in the bearish zone and moves up to the upper side of the 0 axis;
Long-short turning point: 136.507
Suppression: 137.252, 137.769
Support: 136.020, 135.503
Trading strategy: Bullish above 136.507, target 137.252, 137.769
Alternative strategy: bearish below 136.507, target 136.020, 135.503

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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