USD JPY Analisi Tecnica | USD JPY Trading: 2019-04-15 | IFCM Italy
IFC Markets Online CFD Broker

USD JPY Analisi Tecnica - USD JPY Trading: 2019-04-15

Sales tax may be increased in Japan

The Japanese government is going to increase the sales tax to 10% from 8%. Will the quotations for USDJPY increase?

Such a move indicates the weakening of yen against the US dollar. Sales tax is applied in Japan instead of VAT. Its previous increase from 5% to 8% was implemented on April 1, 2014, but was announced about six months before. In 2014, the increase in sales tax contributed to the weakening of the exchange rate from 100 to 125 yen per US dollar. In 2019 the sales tax can be raised from October 1. An additional negative factor for the yen may be the statement by the Minister of Finance of Japan Taro Aso about the increased risks of a slowdown in the global economy, which he made at a meeting of finance ministers and heads of central banks of the G20 countries. He also noted that even the level of sales tax of 10% is still low compared to world standards. Important macroeconomic data will be released in Japan on April 17 and 19: the trade balance and inflation for March. It can affect the dynamics of the yen.

USDJPY

On the daily timeframe, USDJPY: D1 is in a growing trend. Various technical analysis indicators have formed an uptrend. Further growth of quotations is possible in case of publication of negative macroeconomic data in Japan.

  • The Parabolic indicator has formed a buy signal.
  • The Bollinger Bands narrowed, indicating a decrease in volatility. Both lines of Bollinger have a slope up
  • The RSI indicator is above 50. No divergence has been formed.
  • The MACD indicator gives a bullish signal.

The bullish momentum may develop in case if USDJPY exceeds the upper Bollinger band and 4 last upper fractals: 112,21. This level may serve as an entry point. The initial stop loss may be placed below 200-day moving average line, Parabolic signal and the lower Bollinger line: 110. After opening a pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop loss moving it in the direction of the trade. If the price meets the stop level (110), without reaching the order (112,21), we recommend to delete the order: the market sustains internal changes that were not taken into account.

Technical Analysis Summary

PositionBuy
Buy stopAbove 112,21
Stop lossBelow 110

IFCM Trading Academy - Nuova era nell'educazione Forex
Supera il tuo corso:
  • Ottieni certificato
trading academy

The best trading conditions and high-level services for our clients

We are ready to assist you on any issue 24 hours a day.

Note:
Questa panormaica è di carattere informativo-educativo e viene pubblicata gratuitamente. Tutti i dati compresi nella panoramica sono ottenuti da fonti pubbliche conosciute più o meno affidabili. Inoltre non c'è alcuna garanzia che le informazioni fornite siano precise e complete. Le panoramiche non vengono aggiornate. Tutta l'informazione in ciascuna panoramica, compresi indicatori, opinioni, grafici e o quant'altro, è fornita a scopo conoscitivo e non è un consiglio finanziario. Tutto il testo e qualsiasi delle sue parti, e anche i grafici non possono essere considerati un'offerta per effettuare un'operazione con un qualsiasi asset. IFC Markets e i suoi impiegati in alcun caso non sono responsabili per qualsiasi azione intrapresa sulla base delle informazioni contenute.

Close support
Call to Skype Call to messenger Call to telegram Call to WhatsApp Call Back