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USD JPY Technical Analysis - USD JPY Trading: 2023-09-20
USD/JPY Technical Analysis Summary
Above 147.95
Buy Stop
Below 147.56
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
USD/JPY Chart Analysis
USD/JPY Technical Analysis
The technical analysis of the USDJPY price chart on 4-hour timeframe shows USDJPY,H4 is retracing higher above the 200-period moving average MA(200) which is rising itself . We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 147.95. 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 147.56. 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
Trade deficit narrowed less than expected in Japan. Will the USDJPY price rebound continue?
Trade deficit narrowed less than expected in Japan: the Ministry of Finance reported the trade deficit narrowed to 0.56 trillion yen in August from 0.6 trillion in July, when a decline to 0.44 trillion yen was forecast. Japan’s exports fell for the second consecutive month. This is bullish for USDJPY.
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