USDJPY: shock moves up

USD/JPY remained volatile around 130.260, IMF: The use of foreign exchange intervention should be limited to special circumstances, such as disorderly market conditions, the current policy of the Bank of Japan is still appropriate, because inflation may slow down, but inflation risks will become more obvious when When the BOJ exits ultra-low interest rates, it will need to provide clear guidance on the prerequisites for gradually adjusting the policy rate. Foreign exchange intervention may help reduce excessive volatility, but its effect may be temporary.

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

Looking at the 4-hour chart: the short-term bullish momentum maintains a slow upward trend, the bullish sentiment in the market begins to emerge slowly, the bullish momentum fluctuates upward, the MACD indicator is weakly finishing near the axis, and the RSI indicator is weakly hovering above the 50 balance line;

Long-short turning point: 130.104

Suppression: 130.618, 130.956

Support: 129.742, 129.404

Trading strategy: Bullish above 130.104, target 130.618, 130.956

Alternative strategy: bearish below 130.104, target 129.742, 129.404