USDJPY: high-order narrow range sorting back

Fundamental analysis:

The dollar remained volatile against the yen at 144.113. According to the minutes of the Bank of Japan's policy meeting in July, members of the central bank committee unanimously agreed that the central bank must carefully study the possible impact of the sharp trend of the yen on inflation in recent days. As the global economic slowdown begins to affect inflation and long-term interest rates everywhere, the downward pressure on the yen may ease. The minutes of the Bank of Japan's July meeting did not provide any surprises and had little impact on the market.

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

Technical analysis:

The 4-hour chart shows that the bulls' momentum keeps surging, the high level starts to retreat slowly after being sorted out in a short period of time, the market bears' momentum starts to emerge, the MACD indicator stays in the bulls' area, maintains a narrow range, and slowly declines, and the RSI indicator stays in a weak position near the 50 equilibrium line;

Multi empty turning point: 144.243

Pressing position: 144.618, 145.024

Support position: 146.679, 143.314

Trading strategy: bearish at 144.243, target 146.679, 143.314

Alternative strategy: bullish above 144.243, with targets of 144.618 and 145.024