USDJPY: bulls pull up strongly

Fundamental analysis:

The US dollar fluctuated around 135.091 against the Japanese yen. Japanese household expenditure in June increased by 3.5% over the same period of the previous year, the first year-on-year increase since January and higher than the market forecast of 1.5%. Although the increase is larger than expected, the data is unlikely to dispel the concern that Japan's economic recovery will lag behind other major economies such as the United States, especially after the number of coronavirus infections reached a new high in recent weeks.

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

Technical analysis:

According to the 4-hour chart, the low-level bulls were driven by strong shocks, and the market bullish sentiment was shrouded. The Bulls continued to climb. The MACD index hovered on the upper side of the 0 axis, and the RSI index was in the narrow range of 50 equilibrium online side;

Long and short turning point: 134.806

Pressing position: 135.750, 136.345

Support position: 134.212, 133.694

Trading strategy: bullish above 134.806, target 135.750, 136.345

Alternative strategy: bearish below 134.806, target 134.212, 133.694