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USD JPY Technical Analysis - USD JPY Trading: 2024-08-16
USD/JPY Technical Analysis Summary
Above 149.387
Buy Stop
Below 146.910
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| 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 has risen beyond the upper bound of a trading range it traded in the last ten days. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 149.387. 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 146.910. 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 tertiary industry activity contracted in June. Will the USDJPY price rebounding continue?
Japan’s tertiary industry activity contracted in June: the Ministry of Economy, Trade and Industry reported Japan's Tertiary Industry Activity declined 1.3% over month in June after 0.6% growth in May, when an 0.3% increase was expected. Decline in the total value of services purchased by Japanese businesses indicates expectations of decline in future economic activity such as hiring, earnings, and investment which is bearish for yen and bullish for USDJPY pair.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.