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USDJPY: high move up

Fundamental analysis:

USD/JPY remained volatile around 146.328. USD/JPY has reached the level at which the Japanese authorities intervened last year, but so far the Japanese authorities have remained silent. Bank Governor Kazuo Ueda and Prime Minister Fumio Kishida did not discuss the exchange rate of the yen.

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

Brief technical analysis:

Looking at the 4-hour chart: the momentum of the high-level bulls keeps oscillating upwards, the market is still bullish, and the short-term bulls continue to move upwards. The MACD indicator is in the bullish zone and is slowly rising, and the RSI indicator is hovering above the 50 balance line;

Resistance levels: 146.545 146.760

Support levels: 145.917 145.694

Trading strategy: Bullish above 146.328, target 146.545 146.760
Alternative strategy: bearish below 146.328, target 145.917 145.694

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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