Japan's economy contracted again, dragged down by deteriorating trade and sluggish consumer spending

Fundamental analysis:

The dollar remained volatile around 128.193 against the yen. As the Omicron mutant swept through Japan, the country's economy shrank in the first three months of this year. Lingering supply chain problems and soaring import prices have brought more adverse conditions to enterprises and households. Japan's GDP is expected to shrink by 1.8% in the first quarter of the year, and the real market rate is expected to decline by 1.1% in the first quarter.

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

Technical comments: after the short-term maintenance of the narrow range of the upper rail section in the brin belt index channel, the short-term power waited for the opportunity to enter, fell strongly to the node near the lower rail 128.003 of the brin belt index, and began to sort out. The short-term short-term power continued to decline. The brin belt index showed an opening trend, and the early low 127.495 node was close at hand, and the breaking position was imminent. The MACD index was located at the lower side of the 0 axis and maintained a shock downward, RSI index is under the 50 equilibrium line and continues to fluctuate downward;

Long short turning point: 128.402

Pressing bit: 128.910, 129.418

Support position: 127.741, 127.234

Trading strategy: bearish below 128.402, target 127.741, 127.234

Alternative strategy: bullish above 128.402, target 128.910, 129.418

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