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USD JPY Technical Analysis - USD JPY Trading: 2023-04-25
USD/JPY Technical Analysis Summary
Above 135,5
Buy Stop
Below 130,5
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
USD/JPY Chart Analysis
USD/JPY Technical Analysis
On the daily timeframe, USDJPY: D1 came out of the short-term downtrend up and maintained the long-term uptrend. Several technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if USDJPY: D1 rises above the latest up fractal, 200-day moving average, and upper Bollinger band: 135.5. This level can be used as an entry point. The initial risk limit is possible below the Parabolic signal, the last 2 lower fractals, and the lower Bollinger band: 130.5. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After making a trade, the most cautious traders can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (130.5) without activating the order (135.5), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Forex - USD/JPY
The new head of the Japanese Central Bank may maintain a loose monetary policy. Will USDJPY quotes go up?
Kazuo Ueda, the new head of the Bank of Japan (BoJ), expressed his opinion about the possibility of further easing of monetary policy. On April 28, 2023, the next meeting of the BoJ will take place. Investors expect a negative rate of -0.1% to remain. This may have a negative impact on the yen. Note that significant economic statistics will be published in Japan on Friday: Unemployment, Tokyo Consumer Price Index, Industrial Production, Retail Sales. Preliminary forecasts look slightly negative for the yen. In the US this week there will be quite a lot of economic indicators. In particular, GDP for the 1st quarter will be published on April 27.
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