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USDJPY: Rapidly rising

Fundamental analysis:

USD/JPY remained volatile around 146.146. Japanese Finance Minister Shunichi Suzuki: The exchange rate should be determined by the market, and sudden exchange rate fluctuations are not advisable. Exchange rate fluctuations should be determined by fundamentals. Currency fluctuations will be closely monitored.

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

Brief technical analysis:

Looking at the 4-hour chart: The bullish momentum at the low level is rising rapidly, short-term bullish sentiment is shrouded, the market bulls are constantly moving upward, the MACD indicator is weakly consolidating below the 0 axis, and the RSI indicator is weakly hovering above the 50 equilibrium line;

Resistance levels: 146.305 146.446

Support levels: 145.914 145.747

Trading strategy: Bullish above 146.070, target 146.305 146.446
Alternative strategy: bearish below 146.070, target 145.914 145.747

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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