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USDJPY: low down

2022-12-02
1103
Fundamental analysis:
The dollar remained volatile against the yen near 135.332 as the prospect of slower Fed tightening pushed down U.S. Treasury yields. The dollar, which is vulnerable to swings in U.S. Treasury yields, could continue to trade lower against the yen.

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



Brief technical analysis:
Looking at the 4-hour chart: The low-level short-term dynamics remain volatile and downward, and the short-term decline may continue. The overall short-term sentiment in the market is good. The MACD indicator is in the short-selling area and slowly descending. The RSI indicator is in the short-term and has a low order;
Long-short turning point: 135.578
Suppression: 135.926, 136.372
Support: 134.951, 134.535
Trading strategy: bearish below 135.578, target 134.951, 134.535
Alternative strategy: Bullish above 135.578, target 135.926, 136.372

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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