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USDJPY: within a narrow range

2022-12-15
1128
Fundamental analysis:
USD/JPY remained volatile around 135.358, and the Bank of Japan is reported to believe that there is a possibility of a policy review next year. A policy review may be carried out next year, and wages and global economic conditions need to be observed before the review. The BOJ's policy review is said to be unlikely to take place before Governor Haruhiko Kuroda steps down in April 2023.

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



Brief technical analysis:
Looking at the 4-hour chart: After the short-term momentum fell sharply, the low level fluctuated within a narrow range, and the market’s short-term sentiment remained. In the short term, it may maintain a low level of volatility.
Long-short turning point: 135.513
Suppression: 135.921, 136.340
Support: 134.895, 134.454
Trading strategy: bearish below 135.513, target 134.895, 134.454
Alternative strategies: Bullish above 135.513, target 135.921, 136.340

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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