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USD/JPY Technical Analysis - USD/JPY Trading: 2024-01-25
USD/JPY Technical Analysis Summary
Below 146.64
Sell Stop
Above 148.68
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Sell |
USD/JPY Chart Analysis
USD/JPY Technical Analysis
The USDJPY technical analysis of the price chart on 4-hour timeframe shows USDJPY,H4 is trading sideways above the 200-period moving average MA(200) which is flat. We believe bearish momentum will resume after the price breaches below the lower bound of the Donchian channel at 146.64. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 148.68. After placing the order, the stop loss is to be moved to the next fractal high, 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.
Fundamental Analysis of Forex - USD/JPY
Japan’s private sector activity expanded in January. Will the USDJPY price retreat?
Japan’s private sector activity expanded in January: SP Global reported he au Jibun Bank Flash Japan Composite PMI in Japan rose to 51.1 in January from 50.0 in the prior month. Readings above 50.0 indicate industry expansion, below indicate contraction. The reading was the highest since September, with the expansion led by services activity which strengthened to a four-month high. However, manufacturing activity shrank for an eighth consecutive month while new orders rose for the first time in four months, albeit only marginally. The decline in foreign orders continued but at lower rate. Expansion in private business activity is bullish for the Japanese yen and bearish for USDJPY currency pair.
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