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USDJPY: high level narrow range finishing

2022-09-13
1147
Fundamental analysis:

The US dollar remained fluctuating around 142.935 against the Japanese yen. With the expansion of risks facing the economy, such as the prospect of rising input costs and slowing global economic growth, the Bank of Japan may fine tune some of its policy guidance, that is, promising to "carefully examine the impact of the epidemic" and "strive to support the financing conditions of enterprises", but may not change its ultra loose policy.


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




Technical analysis:


According to the 4-hour chart, after the pullback of high-level bears, they began to sort out and shift, the market as a whole began to be shrouded in short sentiment, the MACD index remained weak in the long area and moved downward, and the RSI index was weak near the 50 equilibrium line;


Long and short turning point: 142.935


Pressing position: 143.625, 144.250


Support position: 142.031, 141.455


Trading strategy: 142.935 bearish, target 142.031, 141.455


Alternative strategy: bullish above 142.935, target 143.625, 144.250

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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