During today’s Asian trading session, the US Dollar experienced a modest uptick against the Japanese Yen, crossing the 154.000 threshold. This movement reflects a cautious optimism in the market as traders position themselves ahead of significant economic data releases.
While Japan has no major economic data scheduled for release today, all eyes are on the United States where the Durable Goods Orders report is expected to be published. This key indicator, which reflects new orders placed with domestic manufacturers for delivery of hard goods, is a critical measure of the health of the manufacturing sector and can significantly influence market dynamics.
In such a context, advanced Artificial Intelligence (AI) technologies are playing a crucial role in helping traders navigate the complexities of the forex market. Remarkably, those utilizing this AI technology have managed to consistently stay ahead of market trends, with some users reporting a 34% Return on Investment in just the last 24 hours. This demonstrates the powerful capability of AI to analyze and predict market movements effectively, allowing traders to make informed decisions quickly.
Technical analysis
Time Frame: 1 hour
USDJPY Support & Resistance Table – 24/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 155.26 | Daily R2 |
| Resistance 1 | 155.09 | Daily R1 |
| Support 1 | 154.61 | Daily S1 |
| Support 2 | 154.44 | Daily S2 |
USDJPY Indicator Table – 24/04/2024
| 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 – 24/04/2024
| 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 24/04/2024 – Reference Price : 154.88
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
👉Explore AI-powered Automated Trading Today! Register for a free trial now!
✅Read about the automated trading software on Investing.com
