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USDJPY: Low order collation

2022-11-17
1070
Fundamental analysis:

This is the first formal meeting between the leaders of the two countries and is of great significance. The two sides will exchange views on China Japan relations and international and regional issues of common concern.


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




Technical analysis:

The 4-hour chart shows that the short power fluctuates in a narrow range at the low position. In the short term, it may continue to remain weak at the low position. The market as a whole is still in the short position. The MACD indicator remains in the short position, and the RSI indicator remains below the 50 equilibrium line;

Empty turning point: 139.501

Pressing: 140.224, 140.928

Support: 138.540, 137.859

Trading strategy: bearish at 139.501, with goals of 138.540 and 137.859

Alternative strategy: bullish on 139.501, target 140.224, 140.928

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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