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USDJPY: high narrow finishing moves up

2022-09-06
1036
Fundamental analysis:

The US dollar fluctuated around 140.551 against the Japanese yen. The recent weakness of the Japanese yen is rooted in the monetary policy of the Bank of Japan. Whether it can be reversed depends on whether the monetary policy of the Bank of Japan has changed.



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




Technical analysis:


According to the 4-hour chart, the Bulls' momentum keeps moving upward, the short-term bullish sentiment is still the same, the MACD index maintains consolidation and translation in the Bulls' region, and the RSI index maintains weak wandering in the Bulls' region;


Long and short turning point: 140.350


Pressing position: 140.992, 141.440


Support position: 139.918, 139.538


Trading strategy: bullish above 140.350, target 140.992, 141.440

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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