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USDJPY: finishing down
2023-03-26
852
Fundamental analysis:
USD/JPY remained volatile around 130.715, as the inflation rate is still above the Bank of Japan's 2% target, the data will keep the market expecting the Bank of Japan to adjust its bond yield control policy in the near future. The "core-core CPI" index, closely watched by the Bank of Japan and a price gauge of demand, rose at the fastest pace since January 1982.
US dollar yen USDJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The low-level short-term momentum moves down in a narrow range, the market is shrouded in short-term sentiment, and there is a trend of continuing to move downward in the short term, the MACD indicator is in the short-term area, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance levels: 131.391 131.787
Support: 130.366 130.011
Trading strategy: bearish below 130.953, target 130.366 130.011
Alternative strategy: Bullish above 130.953, target 131.391 131.787
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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