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USDJPY: multi head high pull up

2022-09-08
1102
Fundamental analysis:

The US dollar remained volatile around 143.700 against the Japanese yen, and the US and Japan rose for the third consecutive day. Japanese Chief Cabinet Secretary hiroichi Matsuno expressed concern about the recent rapid and unilateral foreign exchange trend, and said that if things continue to develop, Japan will need to take action.


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




Technical analysis:


According to the 4-hour chart, the Bulls' momentum maintained a good trend of oscillation and upward movement. After a short-term continuous upward pull, the market was shrouded in bullish sentiment. The MACD index was at the high level of the Bulls' region, and the RSI index remained in the Bulls' region;


Long short turning point: 143.261


Pressing position: 144.334, 145.019


Support position: 142.577, 141.907


Trading strategy: bullish above 143.261, target 144.334, 145.019


Alternative strategy: bearish below 143.261, target 142.577, 141.907

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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