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USDJPY: high narrow finishing up

Fundamental analysis:

The US dollar fluctuated around 138.945 against the Japanese yen. Japanese Prime Minister Fumio Kishida: we will relax border control to take advantage of the weak yen; The financial budget estimate for 2023 announced by the Japan reconstruction agency was 529.2 billion yen, a decrease of 8.6% compared with the previous year, the lowest in the previous year.

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

Technical analysis:

According to the 4-hour chart, the short-term amplitude space of the high level is gradually narrowed, the high level of the multi head dynamic entanglement is weak, the MACD index is in the multi head region to maintain the consolidation and translation, and the RSI index is in the multi head region to maintain the weak wandering;

Long and short turning point: 138.690

Pressing position: 139.413, 139.830

Support position: 138.265, 137.780

Trading strategy: bullish above 138.690, target 139.413, 139.830

Alternative strategy: bearish below 138.690, target 138.265, 137.780

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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