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USDJPY: hovering at a high level

Fundamental analysis:

USD/JPY remained volatile around 134.247, and the yield on Japan's 10-year government bond remained unchanged at 0.5%, continuing to touch the upper limit of the Bank of Japan's yield limit range.

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

Brief technical analysis:

Looking at the 4-hour chart: the high level remains weak in the short term, and the market’s bearish sentiment begins to emerge slowly, but it is still hovering at a high level. The MACD indicator is in the bullish area and remains in order, and the RSI indicator is hovering weakly above the 50 balance line;

Long-short turning point: 134.306

Suppression: 134.628, 135.041
Support: 133.748, 133.367

Trading strategy: bearish below 134.306, target 133.748, 133.367
Alternative strategy: Bullish above 134.306, target 134.628, 135.041

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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