USDJPY: High position narrow range finishing

Fundamental analysis:

The dollar remained volatile against the yen at 143.441. Officials of the Japanese Liberal Democratic Party warned that Japan's efforts to prevent the sharp decline of the yen through market intervention would have limited impact. The data shows that the recent sharp fall of the yen has led to a record trade deficit. Japan lacks effective means to combat the sharp decline of the yen. Unilateral intervention in the foreign exchange market may have limited impact on reversing the decline of the yen.

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

Technical analysis:

The 4-hour chart shows that the short-term narrow range consolidation of high position shows signs of continued narrow range shock after the market bulls rise. The MACD indicator hovers on the top of the 0 axis, and the RSI indicator is in the 50 balanced online weak range consolidation;

Empty turning point: 143.298

Pressing position: 144.003, 144.458

Support position: 142.796, 142.285

Trading strategy: bullish above 143.298, target 144.003, 144.458

Alternative strategy: 143.298 lower bearish, target 142.796, 142.285