The steady weakening trend of the yen is beneficial to the overall economy

Fundamental analysis:

The USD / JPY remained volatile around 132.501. Bank of Japan governor Haruhiko Kuroda: the steady weakening trend of the yen is beneficial to the overall economy. It is very important for foreign exchange to reflect fundamentals. The exchange rate policy depends on the decision of the Ministry of finance. Attention must be paid to the impact of the weakening yen on households and small businesses. The Bank of Japan must continue to implement easing policies to support the economy.

USD / JPY - 4-hour K-line chart display:

Technical comments: the bull power continued to fluctuate and rise near the upper rail of the Bollinger belt index. After the high level reached the level near 132.993, the short-term bull power still had a further upward trend. After the Bollinger belt index showed an opening trend, it began to slowly close. The MACD index was in the long region and kept moving upward. The RSI index was in the narrow range near the 80 equilibrium line of the overbought area in the long region;

Multi empty turning point: 132.333

Pressing position: 132.916, 133.291

Support position: 131.905, 131.517

Trading strategy: bullish above 132.333, target 132.916, 133.291

Alternative strategy: bearish below 132.333, target 131.905, 131.517

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