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USDJPY: high order

2023-02-24
1040
Fundamental analysis:

USD/JPY remained volatile around 134.686. Bank of Japan Governor Haruhiko Kuroda said that he would maintain a loose monetary policy with the goal of stabilizing inflation.

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



Brief technical analysis:

Looking at the 4-hour chart: high short-term narrow-range consolidation, the market’s overall bullish momentum is weak, but still hovering at a high level, the MACD indicator is in a flat trend in the bullish area, and the RSI indicator is hovering weakly above the 50 balance line;

Long-short turning point: 134.524

Suppression: 134.987, 135.319
Support: 134.193, 133.881

Trading strategy: Bullish above 134.524, target 134.987, 135.319
Alternative strategy: bearish below 134.524, target 134.193, 133.881

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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