USDJPY: Falling low

USD/JPY remained volatile around 131.402. Japanese Finance Minister: We need to be alert to the rapid spread of credit concerns around the world. Japan is cautiously concerned about foreign exchange fluctuations. Stable fluctuations in foreign exchange are important to reflect fundamentals. No comment on the specific policy measures of the Bank of Japan, but The BOJ is expected to work closely with the government and guide appropriate policy measures under the leadership of the new governor.

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

Looking at the 4-hour chart: short-term shocks rose at a low level and then met resistance and fell, short-term bearish sentiment shrouded, the market as a whole was in a weak position and moved down, the MACD index was hovering below the 0 axis, and the RSI index was below the 50 balance line for weak consolidation;

Resistance levels: 131.973 132.438

Support levels: 130.964 130.579

Trading strategy: bearish below 131.548, target 130.964 130.579

Alternative strategy: Bullish above 131.548, target 131.973 132.438