In today’s Asian trading session, the U.S. Dollar observed a notable uptick against the Japanese Yen, reaching levels above 156.000. This movement comes in the wake of the Bank of Japan’s latest monetary policy announcement, where it opted to maintain its interest rate at the modest level of 0.10%. This decision reflects the central bank’s ongoing strategy to stabilize the Japanese economy without introducing further rate hikes.
Meanwhile, market participants are keenly awaiting the release of the Personal Consumption Expenditures (PCE) Index from the United States. This indicator is crucial as it provides insights into inflation trends and consumer spending, which are significant drivers of economic policy decisions by the Federal Reserve. Interestingly, innovative AI technologies have empowered investors to navigate these economic indicators with remarkable precision. Reports suggest that users leveraging such AI tools in their trading strategies have achieved a commendable 34% Return on Investment within the last 24 hours alone, showcasing the potential of technology in enhancing market forecasts. For further details on this development, explore here.
Technical analysis
Time Frame: 1 hour
USDJPY Support & Resistance Table – 26/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 156.49 | Daily R2 |
| Resistance 1 | 156.32 | Daily R1 |
| Support 1 | 155.88 | Daily S1 |
| Support 2 | 155.71 | Daily S2 |
USDJPY Indicator Table – 26/04/2024
| 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 – 26/04/2024
| 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 26/04/2024 – Reference Price : 156.10
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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