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USDJPY: high volatility

Fundamental analysis:

The U.S. dollar remained volatile against the yen around 147.646. Bank of Japan review member Hajime Takada said there is still a certain distance to achieving the 2% inflation target. It is unclear whether the rise in inflation expectations is sustainable. Does not comment on external exchange rate levels. It will take the next 12 months to confirm whether the price target is achieved.

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

Brief technical analysis:

Looking at the 4-hour chart: the high level remains volatile in the short term, the market’s bullish sentiment continues, and there is a trend of continuing to move upward in the short term. The MACD indicator is in the high level of the bullish area, and the RSI indicator is in the high level of the bullish area.

Resistance levels: 147.904 148.052

Support levels: 147.426 147.235

Trading strategy: Bullish above 147.612, target 147.904 148.052
Alternative strategy: bearish below 147.612, target 147.426 147.235

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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