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USD/JPY Technical Analysis - USD/JPY Trading: 2024-09-13
USD/JPY Technical Analysis Summary
Below 140.638
Sell Stop
Above 142.902
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Sell |
USD/JPY Chart Analysis
USD/JPY Technical Analysis
The technical analysis of the USDJPY price chart on 4-hour timeframe shows USDJPY, H4 is retracing down under the 200-period moving average MA(200) after rebounding to three-day high yesterday. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 140.638. 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 142.902. 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 industrial output was upgraded for July. Will the USDJPY price retreating persist?
Japan’s industrial output for July was higher than first estimated: the Ministry of Economy, Trade and Industry reported Japan's industrial production was revised up to 3.1% over month in July from preliminary estimate of 2.8%. Industrial production grew after 4.2% decline in June. The bigger than first estimated increase in Japanese industrial output is bullish for yen and bearish for USDJPY.
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