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USD JPY Technical Analysis - USD JPY Trading: 2023-03-08
USD/JPY Technical Analysis Summary
Below 137.23
Sell Stop
Above 137.90
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Buy |
| Fractals | Buy |
| 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 declining toward the 200-period moving average MA(200) which rising itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 137.23. 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 137.90. 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
Japan’s consumer sentiment improved in February. Will the USDJPY price rising resume?
Japan’s consumer sentiment improved in February: the Cabinet Office reported the Economy Watchers Sentiment index that reflects consumer spending rose to 52.0 in February from 48.5 in January, when an increase to 49.1 was forecast. Readings above 50.0 indicate optimism, below indicate pessimism. This is bearish for USDJPY.
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