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USD JPY Technical Analysis - USD JPY Trading: 2024-06-18
USD/JPY Technical Analysis Summary
Above 157.88
Buy Stop
Below 157.50
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 USDJPY technical analysis of the price chart on 1-hour timeframe shows USDJPY: H1 is retracing up above the 200-period moving average MA(200) which is tilted up still. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 157.88. 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 157.50. 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 machine tool orders growth turned negative in April. Will the USDJPY price advancing continue?
Japan’s machine tool orders growth fell in April: the Cabinet Office of Japan reported private-sector machinery orders, excluding volatile ones for ships and those from electric power companies, decreased by 2.9% over month in April after 2.9% growth in March. It is the first drop in three months. Machine tool orders are important indicator for capital spending, which is essential for economic growth. Indication of lower capital spending is bearish for yen and bullish for USDJPY.
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