USDJPY: Bears tumble sharply

Fundamental analysis:

The U.S. dollar against the yen remained volatile around 138.126. As interest rates in overseas markets rose more than expected and the yen depreciated, the net selling speed of foreign bonds hit a record high of about 5.5 trillion yen (about 39 billion U.S. dollars). Financial results showed Exposure to overseas assets decreased significantly. It remains to be seen whether the emerging cash flow can be fully used to hedge exchange rate risks, thereby playing some support for the yen.

US dollar yen USDJPY - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the low level is fluctuating in a wide range, the short momentum is falling rapidly, the market as a whole is in the middle of a huge earthquake at a low level, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;

Long-short turning point: 138.307

Suppression: 138.667, 138.974

Support: 137.816, 137.500

Trading strategy: bearish below 138.307, target 137.816, 137.500

Alternative strategy: Bullish above 138.307, target 138.667, 138.974