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USDJPY: high wide range oscillation

2022-08-25
1120
Fundamental analysis:

The US dollar fluctuated around 137.025 against the Japanese yen. Japan will consider building the next generation nuclear power station and reverse its policy to reduce carbon emissions and ensure power supply.


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




Technical analysis:


According to the 4-hour chart, the high-level short-term wide range fluctuates, the market bulls are still driven by short-term or maintain high range fluctuations, the MACD indicator is in the long range and maintains the consolidation and translation, and the RSI indicator is in the 50 balanced online side weak;


Long and short turning point: 136.791


Pressing position: 137.454, 137.904


Support position: 136.417, 136.085


Trading strategy: bullish above 136.791, target 137.454, 137.904


Alternative strategy: bearish below 136.791, target 136.417, 136.085

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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