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USDJPY: High bit sorting up

2022-10-10
1199
Fundamental analysis:

The dollar remained volatile against the yen at 145.342. Japan's Ministry of Finance: Japan's foreign exchange reserves fell month on month in September, the largest decline since records began. At the end of September, Japan's foreign exchange reserves hit the lowest level since March 2017.



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




Technical analysis:


The 4-hour chart shows that after the short-term high and narrow range consolidation, the bulls' motivation slowly moved upward, the short-term bullish mood continued, the bulls had a further upward trend, the MACD index hovered on the top of the 0 axis, and the RSI index was in the weak shock on the top of the 50 equilibrium line;


Empty turning point: 145.137


Pressing: 145.688, 145.983


Support: 144.813, 144.459


Trading strategy: bullish above 145.137, target 145.688, 145.983


Alternative strategy: 145.137 lower bearish, target 144.813, 144.459

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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