USDJPY: High level shock rising

Fundamental analysis:

The US dollar remained volatile against the Japanese yen at 146.988. Junichi Suzuki, the Japanese finance minister, explained that the recent intervention was due to excessive exchange rate fluctuations caused by speculators, and that excessive exchange rate fluctuations caused by speculators could not be accepted. No comment on the yen exchange rate. We reiterate the previous commitments made by the G7/G20 on exchange rate issues. Other countries did not comment on Japan's intervention.

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

Technical analysis:

The 4-hour chart shows that the bulls' momentum has maintained a good momentum of shock and upward movement. The short-term bullish sentiment has been constantly involved, and there is no sign of stopping. The MACD index hovers at the high level in the bulls' area, and the RSI index is collated near the 80 equilibrium line in the overbought area;

Empty turning point: 146.762

Pressing: 147.239, 147.605

Support: 146.450, 146.156

Trading strategy: bullish above 146.762, target 147.239, 147.605

Alternative strategy: bearish at 146.762, target 146.450, 146.156