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USDJPY: short low shock

2022-08-12
1288
Fundamental analysis:

The USD / JPY fluctuated around 132.981. Against the background that the market is more and more satisfied with the pricing of the federal funds rate, the worst days of the yen seem to have passed, and the broad range of 130-135 yen may be the new normal.


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




Technical analysis:


According to the 4-hour chart, the short-term momentum continues to fluctuate downward, and the short-term decline may continue. The MACD index hovers below the 0 axis, and the RSI index is under the 50 equilibrium line;


Long and short turning point: 133.155


Pressing position: 133.814, 134.478


Support position: 132.337, 131.745


Trading strategy: bearish below 133.155, target 132.337, 131.745


Alternative strategy: bullish above 133.155, target 133.814, 134.478

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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