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USDJPY: long shock continues to pull up
2022-08-18
1135
Fundamental analysis:
The US dollar fluctuated around 134.910 against the Japanese yen, and the Japanese yen rose generally against major currencies, indicating that its rebound momentum is not only a response to the recent narrowing of the US Japan interest rate gap, but also further proves that the general trend of "short the Japanese yen" has gone.
US dollar and Japanese yen USDJPY - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls' momentum is maintained and the short-term bullish sentiment may continue. The bulls in the market are gradually shrouded. The MACD index is hovering on the upper side of the 0 axis, and the RSI index is in the weak consolidation of the 50 balanced online side;
Long and short turning point: 134.719
Pressing position: 135.274, 135.653
Support position: 134.368, 133.942
Trading strategy: bullish above 134.719, target 135.274, 135.653
Alternative strategy: bearish below 134.719, target 134.368, 133.942
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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