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USDJPY: High level wide amplitude vibration
2022-10-06
1092
Fundamental analysis:
The US dollar remained volatile against the Japanese yen at 144.435. Japanese Chief Cabinet Secretary Hiroshi Matano said that he could make necessary response to excessive exchange rate fluctuations. He should manage assets and be prepared to intervene in the foreign exchange market as much as possible. He should not think that the intervention fund is limited.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that: the high short-term wide amplitude shock and translation, the market momentum is in a state of anxiety, and the direction cannot be finally guided in the short term, the MACD index is weak around the 0 axis, and the RSI index is weak around the 50 equilibrium line;
Empty turning point: 144.518
Pressing: 144.767, 145.108
Support: 144.056, 143.719
Trading strategy: bullish above 144.518, target 144.767, 145.108
Alternative strategy: bearish under 144.518, target 144.056, 143.719
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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