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USDJPY: High position wide format finishing

2022-09-20
1155
Fundamental analysis:

The dollar remained volatile against the yen at 143.193. The Bank of Japan may intervene in the foreign exchange market to curb the rise in import prices of energy and food caused by the depreciation of the yen.


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




Technical analysis:


The 4-hour chart shows that the high level and wide range of consolidation and translation, the market bull momentum remains hovering, the MACD index is weak around the 0 axis, and the RSI index is weak around the 50 equilibrium line;


Empty turning point: 142.970


Pressing position: 143.757, 144.302


Support position: 142.369, 141.837


Trading strategy: bullish above 142.970, target 143.757, 144.302


Alternative strategy: bearish below 142.970, target 142.369, 141.837

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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