In today’s Asian trading session, the U.S. Dollar experienced a notable increase, ascending above the 153.000 level against the Japanese Yen. This upward movement comes at a time when the economic calendar in Japan remains quiet, with no major data releases scheduled for the day. In contrast, market participants are keenly anticipating the release of Retail Sales data from the United States, an indicator that could significantly influence currency valuations depending on its outcome.
The absence of significant economic announcements from Japan has shifted investor focus primarily to forthcoming U.S. economic indicators. Retail Sales figures are especially critical as they provide insights into consumer spending trends, an essential component of economic health in the U.S. A robust Retail Sales report could reinforce the strength of the U.S. economy, potentially bolstering the Dollar further against global currencies including the Yen.
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As today unfolds, the attention will undoubtedly remain fixed on the U.S. Retail Sales data, which is expected to provide further direction for the Dollar-Yen currency pair. Investors and traders will be watching closely, prepared to adjust their positions based on the strength of the U.S. consumer market insights.
Technical analysis
Time Frame: 1 hour
USDJPY Support & Resistance Table – 15/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 154.32 | Daily R2 |
| Resistance 1 | 154.10 | Daily R1 |
| Support 1 | 153.54 | Daily S1 |
| Support 2 | 153.32 | Daily S2 |
USDJPY Indicator Table – 15/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
USDJPY Indicator / Period Table – 15/04/2024
| 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 15/04/2024 – Reference Price : 153.82
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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