In today’s Asian market session, the US Dollar exhibited an upward trajectory against the Japanese Yen, surpassing the 151.000 benchmark. This movement reflects the ongoing dynamics within the forex market, emphasizing the Dollar’s strength in the current trading environment.

With Japan and the United States both on a hiatus from releasing significant economic reports today, the forex market’s focus shifts towards analyzing broader economic trends and monetary policy expectations that may influence future currency movements.

Navigating Market Sentiments

In the absence of fresh economic data, investors are likely to weigh global economic indicators and central bank communications more heavily in their trading strategies. The current position of the US Dollar against the Japanese Yen showcases the currency pair’s responsiveness to underlying market sentiments and the broader financial landscape.

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This analysis not only highlights the current status of the US Dollar against the Japanese Yen but also underscores the critical role of technology in enhancing market analysis and decision-making. It serves as a testament to the evolving nature of forex trading, where advanced tools and analytics provide a competitive edge in navigating market uncertainties.

Technical analysis

Dollar - Japanese Yen Analysis Analysis Technical analysis 08/04/2024

Time Frame: 1 hour

USDJPY Support & Resistance Table – 08/04/2024

Support & ResistanceLevelExplanation
Resistance 2152.17Daily R2
Resistance 1152.00Daily R1
Support 1151.52Daily S1
Support 2151.35Daily S2

USDJPY Indicator Table – 08/04/2024

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

USDJPY Indicator / Period Table – 08/04/2024

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

USDJPY 08/04/2024 – Reference Price : 151.78

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

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