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USDJPY: Bulls rise due to strong shock

2022-09-27
1080
Fundamental analysis:

The US dollar remained volatile against the Japanese yen at 144.747. Bank of Japan Governor Kuroda: The Bank of Japan will maintain loose monetary conditions to support enterprises. The Bank of Japan is committed to achieving a positive economic cycle. Wages and corporate profits are rising, inflation is moderately accelerating, and Japan's consumption is expected to grow moderately.


USD and JPY - 4-hour K line chart shows:



Technical analysis:


The 4-hour chart shows that the low position bulls' momentum has kept surging, the short-term bullish sentiment remains unchanged, the market bulls continue to move upward, the MACD index hovers on the top of the 0 axis, and the RSI index is in a narrow range of 50 balanced online;


Empty turning point: 144.579


Pressing position: 145.152, 145.538


Support position: 144.223, 143.828


Trading strategy: bullish above 144.579, target 145.152, 145.538


Alternative strategy: bearish under 144.579, target 144.223, 143.828

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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