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USDJPY: high order

2023-08-03
769
Fundamental analysis:

The dollar remained volatile around 143.324 yen, with the Bank of Japan poised to step in at any time to stem a sharp rise in long-term interest rates, even before 10-year bond yields hit a new cap of 1.0 percent.

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



Brief technical analysis:

The 4-hour chart: the high level is maintained in the short term, the market is shrouded in bullish sentiment, and there are signs of continued shock and upward movement in the short term, the MACD indicator is in the high position in the bullish zone, and the RSI indicator is in the bullish zone to maintain hovering;

Resistance levels: 143.658 143.960

Support levels: 142.805 142.480

Trading strategy: Bullish above 143.175, target 143.658 143.960
Alternative strategy: bearish below 143.175, target 142.805 142.480

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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