Japan's economy may resume moderate growth in the second quarter

Fundamental analysis:

The USD / JPY remained volatile around 134.203. The contraction of the Japanese economy at the beginning of this year was less than previously estimated. The recovery from the epidemic began to regain momentum at the end of the first quarter. The GDP in the three months ended March decreased by 0.5% on an annualized basis. With the lifting of epidemic prevention restrictions, consumers' confidence in going out consumption is restored, and the economy may resume moderate growth in the second quarter.

USD / JPY - 4-hour K-line chart display:

Technical comments: the bull power continued to fluctuate and rise near the upper rail of the Bollinger belt index channel. After the high level reached the node near 134.475, the short-term bull power continued to rise. The Bollinger belt index continued to show an upward trend. The MACD index was in the middle of the rising trend in the bull region, and the RSI index was in the online side of the 80 balanced overbought zone in the bull region;

Multi empty turning point: 133.953

Pressing position: 134.775, 135.342

Support position: 133.447, 132.925

Trading strategy: bullish above 133.953, target 134.775, 135.342

Alternative strategy: bearish below 133.953, target 133.447, 132.925

The above analysis is a personal point of view and is for reference only.