- Analytics
- Technical Analysis
USD/JPY Technical Analysis - USD/JPY Trading: 2024-04-30
USD/JPY Technical Analysis Summary
Above 156.99
Buy Stop
Below 156.05
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
USD/JPY Chart Analysis
USD/JPY Technical Analysis
The technical analysis of the USDJPY price chart on 1-hour timeframe shows USDJPY, H1 is rebounding above the 200-period moving average MA(200) after hitting two-week low yesterday. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 156.99. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 156.05. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - USD/JPY
Japan’s industrial output grew more than expected in March. Will the USDJPY price rebounding reverse?
Japan’s industrial output for March was higher than expected: the Ministry of Economy, Trade and Industry reported Japan's industrial production rose 3.8% over month in March 0.6% decline in February, when 3.4% growth was forecast. The bigger than expected increase in output was attributed to automakers resuming production after safety scandals. At the same time analysts expect a strong rebound in gross domestic product based on forecasts of high industrial output for April and May. This is bullish for yen and bearish for USDJPY. However, the current setup is bullish for the pair.
- Get Certificate
Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.