In recent developments from the Asian trading sessions, there has been a notable decrease in the strength of the US Dollar against the Japanese Yen, with the exchange rate dropping below the 152.000 mark. This movement underscores the dynamic nature of currency markets and signals a moment of recalibration in the valuation between these two major currencies.
Today’s economic calendar from Japan remains clear, with no significant data releases on the horizon. This places heightened focus on the United States, where critical labor market statistics, including the Nonfarm Payrolls and Unemployment Rate, are scheduled for release. These indicators are vital as they provide insights into the economic health of the nation, potentially influencing currency exchange rates and shaping investor strategies.
Technical analysis
Time Frame: 1 hour
USDJPY Support & Resistance Table – 05/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 151.49 | Daily R2 |
| Resistance 1 | 151.35 | Daily R1 |
| Support 1 | 150.97 | Daily S1 |
| Support 2 | 150.83 | Daily S2 |
USDJPY Indicator Table – 05/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Buy |
USDJPY Indicator / Period Table – 05/04/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Sell | Buy | Buy |
| SMA 20 | Sell | Buy | Buy |
USDJPY 05/04/2024 – Reference Price : 151.14
| SELL | Simple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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