The weak yen may be good for the Japanese economy

Fundamental analysis:

The U.S. dollar fluctuated around 133.783 against the yen. Morita, director of the Japan Securities Association, said: the yen may have depreciated too much. The weak yen is a positive factor for the Japanese economy, but the rapid weakening of the yen caused concern.

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

Technical comments: the nodes in the upper rail section of the Bollinger belt index channel continued to fluctuate and rise. After reaching the nodes near 135.581, the high level retreated, fell below the Bollinger belt index and went off the rail to the nodes near 133.496. The Bollinger belt index showed a closing trend. The MACD index maintained a slow downward trend in the bull region, and the RSI index short power maintained a downward trend to the lower side of the 50 equilibrium line;

Multi empty turning point: 134.017

Pressing position: 134.502, 135.218

Support position: 133.244, 132.705

Trading strategy: bearish below 134.017, target 133.244, 132.705

Alternative strategy: bullish above 134.017, target 134.502, 135.218

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