The purchasing power of the yen fell to its weakest level since 1971

Fundamental analysis:

The dollar remained volatile around 127.809 against the yen. The Bank of Japan, based on the data of the bank for International Settlements, showed that the real effective exchange rate of the yen fell to 60.9, the lowest since August 1971. The weighted average exchange rate of the yen against other currencies is an indicator of Japan's international competitiveness, taking into account factors such as trade and inflation.

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

Technical comments: the bearish strength continues, the middle and lower rail range of the brin belt index continues to fluctuate downward, the low level reaches the node near 127.016, starts to narrow the consolidation and translation, and starts to linger after touching the node near the middle rail of the brin belt index, the short-term bearish downward power begins to weaken, the brin belt index continues to close, the MACD index is below the 0 axis, the short area remains narrow, and the RSI index is in the weak consolidation below 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.