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USDJPY: Narrow finishing
2022-10-25
1047
Fundamental analysis:
The US dollar remained volatile against the Japanese yen at 148.734. The Japanese authorities suspected intervention for the second day in a row. The Japanese yen had a sharp shock in the early trading of Monday. However, the US dollar strengthened under the impetus of yield and hedging demand, weakening the efforts made to mitigate the decline of the Japanese yen.
USD and JPY - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the short-term wide earthquake, the amplitude space narrowed, the market maintained a weak consolidation again, and short sellers showed signs of waiting for opportunities to enter the market. The MACD index hovered under the axis 0, and the RSI index was in a weak consolidation near the 50 equilibrium line;
Empty turning point: 149.029
Pressing position: 149.621, 150.139
Support position: 148.141, 147.578
Trading strategy: 149.029 lower bearish, target 148.141, 147.578
Alternative strategy: bullish on 149.029, target 149.621, 150.139
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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