- Analytics
- Technical Analysis
USD/JPY Technical Analysis - USD/JPY Trading: 2024-02-12
USD/JPY Technical Analysis Summary
Above 148.57
Buy Stop
Below 147.62
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| 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 daily timeframe shows USDJPY,Daily is retracing up toward the 200-period moving average MA(200) after hitting four-week low eleven days ago. We believe the bullish movement will resume after the price breaches above the upper bound of the Donchian channel at 148.57. 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 147.62. 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 money stock grew more than expected in January. Will the USDJPY price rebound continue?
Japan’s money stock grew more than expected in January: the Bank of Japan reported the total quantity of domestic currency in circulation and deposited in banks rose 2.4% over year in January following 2.3% growth in December when a 2.2% increase was forecast. Faster money stock growth is bearish for Japanese interest rate and bullish for USDJPY.
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Instant Execution
Ready to Trade?
Open Account Note:
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.