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USD/JPY Technical Analysis - USD/JPY Trading: 2024-05-08
USD/JPY Technical Analysis Summary
Above 155.257
Buy Stop
Below 153.828
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| 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 is rising after returning back above the 200-period moving average MA(200) which is rising itself. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 155.257. 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 153.828. 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
Japanese bond yields declined at auction today. Will the USDJPY price rebound continue?
Japanese bond yields declined today at auction: Ministry of Finance data show Japan’s 10-year government bond yield fell to around 0.86%, hitting two-week lows. Domestically, the Bank of Japan left bond purchase offers unchanged, against market expectations that it could reduce purchase offers to scale back monetary support. Investors now look ahead to the BOJ’s summary of opinions due later this week for further clues on domestic monetary policy. Lower Japanese bond yields make investments in yen less attractive which is bearish for yen and bullish for USDJPY pair.
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