USDJPY: narrow width finishing translation

Fundamental analysis:

The USD / JPY fluctuated around 135.132. On August 8, the Moscow exchange of Russia suspended the relevant foreign exchange transactions of the yen against the ruble and the dollar against the yen. Analysts believe that this move is mainly related to the potential risks of yen settlement. On the same day, the trading system of the Moscow exchange showed that the trading data of the yen against the ruble and the US dollar against the Japanese yen had stopped updating. In addition, from the same day, Japanese yen is no longer accepted as collateral for trading on the Moscow exchange market.

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

Technical analysis:

According to the 4-hour chart, the power of low bulls rises in a step-by-step manner, while the high bulls move in a narrow range. The bullish sentiment of the market remains the same. The MACD index is in the consolidation and translation of long bulls, and the RSI index is in the 50 balanced online side;

Long and short turning point: 134.806

Pressing position: 135.644, 136.345

Support position: 134.212, 133.694

Trading strategy: bullish above 134.806, target 135.644, 136.345

Alternative strategy: bearish below 134.806, target 134.212, 133.694