Japan's core CPI recorded an annual rate of 2.1% in April

Fundamental analysis:

The dollar fluctuated around 127.787 against the yen, and Japan's core CPI recorded an annual rate of 2.1% in April. The sharp acceleration of CPI growth was mainly due to the gradual fading of the impact of lower mobile phone costs compared with the same period last year, which had previously masked the impact of soaring energy prices. Public dissatisfaction with the rising cost of living may also intensify, so why the government will support the position of the Bank of Japan at that time will raise questions.

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

Technical comments: the short power continues to fluctuate downward in the middle and lower rail section of the brin belt index channel, starts to fluctuate after the low reaches the node near 127.016, and the short-term bull reverses and moves upward, which is about to touch the node near the middle rail of the brin belt index. The brin belt index starts to close after the opening trend, the short power continues to fluctuate downward, the MACD index is in the low position of the short area, and the RSI index is in the lower side of the 50 equilibrium line;

Long short turning point: 127.959

Pressing bit: 128.483, 128.910

Support position: 127.234, 126.807

Trading strategy: bearish below 127.959, target 127.234, 126.807

Alternative strategy: bullish above 127.959, target 128.483, 128.910

The above analysis is a personal point of view and is for reference only.