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USDJPY: High level horizontal direction sorting up

2022-09-21
1184
Fundamental analysis:

The dollar remained volatile against the yen at 143.686. The market is watching whether Bank of Japan Governor Tomohiko Kuroda will give a stronger warning about the sharp decline of the yen, or change his view that the recent cost driven inflation will be short-lived.


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




Technical analysis:


The 4-hour chart shows that the short-term high level starts to rise slowly after consolidation and translation, the short-term bullish mood is shrouded, the market bulls show signs of slowly continuing to move upward, the MACD indicator hovers on the top of the 0 axis, and the RSI indicator is in the 50 balanced online consolidation;


Empty turning point: 143.536


Pressing position: 144.147, 144.610


Support position: 143.178, 142.745


Trading strategy: bullish above 143.536, target 144.147, 144.610


Alternative strategy: 143.536 lower bearish, target 143.178, 142.745

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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