USDJPY: long high up

Fundamental analysis:

The US dollar fluctuated around 140.119 against the Japanese yen. Japan's GDP growth rate in the second quarter may be revised up due to strong capital expenditure. However, since July, the Japanese epidemic has picked up again, coupled with the soaring cost of raw materials and the global economic slowdown, Japan's economic prospects in the second half of this year have become gloomy. The weak yen may further damage the Japanese economy. The yen fell to a 24 year low against the US dollar this week.

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

Technical analysis:

According to the 4-hour chart, the Bulls' momentum maintains a narrow range of fluctuation and rise, the short-term bullish sentiment is shrouded, the high level is sorted out in the short term, and the Bulls' pull-up has not stopped. The MACD index is in the high level sorting of the Bulls' region, and the RSI index is in the long area and continues to hover;

Long short turning point: 139.992

Pressing position: 140.725, 141.279

Support position: 139.538, 139.153

Trading strategy: bullish above 139.992, target 140.725, 141.279

Alternative strategy: bearish below 139.992, target 139.538, 139.153