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USD/JPY Technical Analysis - USD/JPY Trading: 2023-03-24
USD/JPY Technical Analysis Summary
Below 129.63
Sell Stop
Above 130.45
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
USD/JPY Chart Analysis
USD/JPY Technical Analysis
The technical analysis of the USDJPY price chart on 1-hour timeframe shows USDJPY: H1 is falling under the 200-period moving average MA(200) which is falling itself. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 129.63. 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 130.45. 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 consumer prices inflation slowed in February. Will the USDJPY price retreating reverse?
Japan’s consumer prices inflation slowed in February: the Statistics Bureau reported Japan's National Core Consumer Price Index (CPI) rose 3.1% over year in February after 4.2% growth in January, in lie with expectation. This is bullish for USDJPY. However, the current setup is bearish for the pair.
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