fbAnalisi Tecnica USDJPY | USDJPY forecast bullish despite Manufacturing PMI missing expectation | IFCM Italy

Analisi Tecnica USDJPY : 2021-01-25

Recommendation Dollaro Yen:

Buy
Forte Di VendereSellNeutralBuyForte Acquistare

Sopra 103.85

Buy Stop

Sotto 103.65

Stop Loss

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Senior Analytical Expert
Articoli 1692
IndicatorVALUESignal
MACD Buy
Donchian Channel Neutral
MA(200) Buy
Fractals Neutral
Parabolic SAR Buy
On Balance Volume Buy

Chart Analysis

IFC Markets Tech Analysis

The USDJPY technical analysis of the price chart on 1-hour timeframe shows USDJPY: H1 is rebounding above the 200-period moving average MA(200) which is rising. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 103.85. 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 103.65. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic indicator 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.

Analisi Fondamentale

Japan’s Manufacturing PMI declined in January. Will the USDJPY rebound continue?

Japan’s Manufacturing PMI declined in January: Market’s flash report showed Manufacturing PMI in Japan fell to 49.7 for January from 50 in December, when an increase to 50.1 was forecast. Readings above 50.0 indicate industry expansion, below indicate contraction. This is bearish for USDJPY. However, the technical setup is bullish for USDJPY.

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