USDJPY: high rise

The U.S. dollar against the yen remained volatile around 137.664. Japan’s economic growth was higher than expected, and the further relaxation of epidemic prevention regulations boosted consumption. Positive economic performance may continue to heat up speculation about early general elections and central bank policy adjustments. Stronger-than-expected consumption and business data were the main drivers of economic growth in the first quarter, while trade activity weighed on overall data performance.

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

Looking at the 4-hour chart: the high-level bullish momentum continues to fluctuate and rise, the short-term bullish sentiment continues, the market bulls continue to climb, and there is no sign of stopping, the MACD indicator is in the bullish zone and continues to move upward, and the RSI indicator is in the bullish zone and continues to rise;

Resistance levels: 137.937 138.185

Support levels: 137.233 136.972

Trading strategy: Bullish above 137.510, target 137.937 138.185

Alternative strategy: bearish below 137.510, target 137.233 136.972