In Asian trading, the US Dollar saw a slight uptick against the Japanese Yen, reaching levels above 149.000.

Today, Japan is not expected to release any significant economic data, while the United States is also devoid of major economic releases.

Opportunity Insights:

For traders and investors, the strengthening of the US Dollar against the Japanese Yen presents an opportunity to monitor market dynamics and potential trading strategies.

If the US Dollar continues to gain strength, it may indicate investor confidence in the US economy or a shift in risk sentiment favoring the US Dollar as a safe-haven currency. This could potentially lead to profitable trading opportunities for those trading the USD/JPY currency pair.

However, it’s essential to remain cautious and keep an eye on geopolitical developments and economic indicators that could influence currency movements.

Technical analysis

Dollar - Japanese Yen Analysis Analysis Technical analysis 18/03/2024

Time Frame: 1 hour

USDJPY Support & Resistance Table – 18/03/2024

Support & ResistanceLevelExplanation
Resistance 2149.89Daily R2
Resistance 1149.59Daily R1
Support 1148.77Daily S1
Support 2148.47Daily S2

USDJPY Indicator Table – 18/03/2024

IndicatorSignal
SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Buy
RSI (14)Buy
Stochastic ( 9;6;3)Sell

USDJPY Indicator / Period Table – 18/03/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)BuyBuyBuy
RSI (14)BuyBuyBuy
SMA 20BuyBuyBuy

USDJPY 18/03/2024 – Reference Price : 149.16

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (1)

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