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United States and Japan: low weak upward

2022-07-27
1163
Fundamental analysis:

The dollar remained volatile around 136.829 against the yen. The minutes of the June meeting of the Bank of Japan showed that members agreed to increase easing policies when necessary; Members agreed that the Bank of Japan must pay close attention to the impact of the financial and foreign exchange markets on the economy and prices.


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




Technical analysis:


According to the 4-hour chart, the momentum of low-level bulls remained volatile and the upward trend continued, the short-term low-level rally was good, the MACD index was in the short area, the low-level was maintained and moved up, and the RSI index was hovering below the 50 equilibrium line;


Multi empty turning point: 136.704


Pressing position: 137.159, 137.467


Support position: 136.388, 136.043


Trading strategy: bullish above 136.704, target 137.159, 137.467


Alternative strategy: bearish below 136.704, target 136.388, 136.043

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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