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USDJPY: high move up

2023-02-22
988
Fundamental analysis:

USD/JPY remained volatile around 134.957. Bank of Japan Governor Haruhiko Kuroda: The exchange rate trend is affected by various factors, and will continue to monitor foreign exchange and its impact on the economy. It is believed that loans to the private sector are increasing, and labor demand and inflation may push up wages.

US dollar yen USDJPY - 4-hour K-line chart shows:



Brief technical analysis:

The 4-hour chart: the high level moves up, the short-term bullish sentiment remains, and it slowly breaks through the previous high level to rise, the MACD indicator is in the long-term zone to maintain consolidation, and the RSI indicator is in the long-term zone and slowly rises;

Long-short turning point: 134.992

Suppression: 135.319, 135.603
Support: 134.429, 134.080

Trading strategy: Bullish above 134.992, target 135.319, 135.603
Alternative strategy: bearish below 134.992, target 134.429, 134.080

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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