fb&RUBJPY Forecast | Preparing for publication of inflation data in Tokyo | IFCM

Technical Analysis &RUBJPY : 2020-11-25

Recommendation for Ruble vs Yen:

Strong SellSellNeutralBuyStrong Buy

Above 1,384

Buy Stop

Below 1,294

Stop Loss

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Senior Analytical Expert
Articles 1670
MA(200) Neutral
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Neutral

Chart Analysis

IFC Markets Tech Analysis

On the daily timeframe, RUBJPY: D1 approached the downtrend resistance line. It must be broken upward before opening a position. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish move if RUBJPY rises above the last high: 1.384. This level can be used as an entry point. We can set a stop loss below the Parabolic signal, the lower Bollinger band and all-time low: 1.294. After opening a pending order, we can move the stop loss to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the 4-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (1.294) without activating the order (1.384), it is recommended to delete the order: some internal changes in the market have not been taken into account.

Fundamental Analysis

In this review, we propose to consider the RUBJPY personal composite instrument (PCI). It reflects the price dynamics of the Russian ruble against the Japanese yen. Will the RUBJPY quotes continue to increase?

The upward movement reflects the strengthening of the Russian ruble and the weakening of the yen. The ruble may strengthen amidst rising oil prices. Hydrocarbons account for approximately 70% of Russian exports. The yen may begin weakening against the background of the introduction of a coronavirus vaccine, since investors previously considered it a "safe have" currency. The Bank of Russia rate is 4.25% with 3.8% inflation in October, in annual terms. The Bank of Japan rate is -0.1% with October inflation of -0.4%, in annual terms. On November 27, Japan will release Tokyo inflation data for November, which may affect the dynamics of the yen. Russia’s trade surplus in September was $10 billion, and Japan’s - $6.3 billion (US dollar terms).

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