Fundamental analysis:
The USD / JPY fluctuated around 127.591. The governor of the Bank of Japan, tohiko Kuroda, said that the current employment and income situation in Japan is quite weak. The central bank will support the economy through continuous loose monetary policy. Cost driven inflation is unsustainable. It aims to create a benign growth of wage growth caused by rising prices. The consumer price inflation (CPI) will remain at about 2% in the next 12 months, but will then decline.
USD / JPY - 4-hour K-line chart display:
Technical comments: it has been maintained for a long time in the narrow range of the middle and lower rail section of the Bollinger belt index channel. After the weak wave of multi head power was narrowed, it continued to rise in the middle and upper rail section. The Bollinger belt index began to rise slowly after opening its mouth. The MACD index remained weak in the short area and moved up to the weak near the 0 axis. The RSI index began to move up slowly after the weak consolidation near the 50 equilibrium line;
Multi empty turning point: 127.514
Pressing bit: 127.854, 128.126
Support position: 127.222, 126.901
Trading strategy: bullish above 127.514, target 127.854, 128.126
Alternative strategy: bearish below 127.514, target 127.222, 126.901
The above analysis is a personal point of view and is for reference only.