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USDJPY: rising from highs

Fundamental analysis:

The U.S. dollar remained volatile against the yen around 147.467. Japan's annual wholesale price inflation slowed for the eighth consecutive month in August, providing some relief to Japanese households and retailers who have been hit by sharp increases in raw material import prices in the past.

USDJPY - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: The high bull power continues to fluctuate and rise, short-term bullish sentiment is shrouded, the market bulls continue to rise, the MACD indicator maintains consolidation in the bull zone, and the RSI indicator hovers weakly above the 50 equilibrium line;

Resistance level: 147.657 147.845

Support level: 147.165 147.000

Trading strategy: Bullish above 147.347, target 147.657 147.845
Alternative strategy: bearish below 147.347, target 147.165 147.000

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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