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
Time Frame: 1 hour
USDJPY Support & Resistance Table – 18/03/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 149.89 | Daily R2 |
| Resistance 1 | 149.59 | Daily R1 |
| Support 1 | 148.77 | Daily S1 |
| Support 2 | 148.47 | Daily S2 |
USDJPY Indicator Table – 18/03/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Sell |
USDJPY Indicator / Period Table – 18/03/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
USDJPY 18/03/2024 – Reference Price : 149.16
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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