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USDJPY: within a narrow range

2023-01-10
585
Fundamental analysis:
USD/JPY remained volatile around 131.998. Although wage growth, an important non-agricultural data in the United States, was slightly unfavorable, the job market remained prosperous. In the short term, we should not expect the USD/JPY to continue to have a substantial downward trend Potential.

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



Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum moves down within a narrow range, the market is shrouded in short-term sentiment, the MACD indicator is weakly hovering below the 0-axis, and the RSI indicator is weakly finishing below the 50 balance line;
Long-short turning point: 132.295
Suppression: 132.766, 133.282
Support: 131.552, 131.127
Trading strategy: bearish below 132.295, target 131.552, 131.127
Alternative strategy: bullish above 132.295, target 132.766, 133.282

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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