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USD/JPY Technical Analysis - USD/JPY Trading: 2024-11-29
USD/JPY Technical Analysis Summary
Below 149.75
Sell Stop
Above 151.90
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| 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 retreating after breaching below the 200-period moving average MA(200) which has leveled off. RSI indicator is in oversold zone. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 149.75. 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 151.90. After placing the order, the stop loss is to be moved to the next fractal high 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
Inflation in Japan's capital accelerated in November. Will the USDJPY price retreating reverse?
Japanese consumer inflation accelerated more than expected: the Statistics Bureau of Japan reported the Tokyo Core Consumer Price Index (CPI) growth rose to 2.2% over year in November after 1.8% growth in October when an increase to 2.0% was expected. Inflation data for Tokyo are seen as a leading indicator of Japanese nationwide trends. The expected accelerating of consumer prices rise (excluding fresh food prices) points to rising cost-push pressure in the world's third-largest economy. The BOJ is meeting on December 18 - 19. It is widely expected to raise interest rates from current 25 basis point level. Faster Japanese core prices inflation is bullish for yen and bearish for USDJPY.
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