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USD JPY Technical Analysis - USD JPY Trading: 2022-02-09
USD/JPY Technical Analysis Summary
Above 115,7
Buy Stop
Below 113,2
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 is moving towards the upper border of the growing price channel. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if USDJPY rises above its latest up fractal: 115.7. 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: 113.2. 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. The most cautious traders after making a trade 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 (113.2) without activating the order (115.7), 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
Japan Current Account declined in December. Will the USDJPY quotes continue to rise?
The move up means the weakening of the Japanese yen. Japan Current Account fell in December 2021 to the lowest level since June 2014 and turned negative for the first time in 7 and a half years. It amounted to -370.8 billion yen, while +612.3 billion yen was expected. Japan Goods Trade Balance and Household Spending also turned negative in December. The Eco Watchers Survey declined in January and was worse than expected. Recall that on Friday, February 11 in Japan there will be a holiday - Day of the Foundation of the State. On Monday, February 15, important data will be released early in the morning: Japanese GDP for the 4th quarter of 2021 and industrial production for December in the 2nd reading. Forecasts look negative for the yen.
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