In today’s Asian trading session, the US Dollar demonstrated strength against the Japanese Yen, consistently trading above the 156.000 mark. This movement reflects recent economic data and market sentiments that could influence future trends.
Earlier today, Japan reported a significant rise in its Industrial Production, with figures reaching a 3.8% increase, surpassing market expectations of 3.4%. This positive outcome suggests resilience in the Japanese manufacturing sector, potentially influencing the Yen’s valuation in currency markets.
Meanwhile, investors are keenly awaiting the release of Consumer Confidence data from the United States. This indicator is crucial as it reflects the overall consumer sentiment, which can impact economic expectations and Federal Reserve policy decisions. A robust Consumer Confidence reading could reinforce the Dollar’s position against a basket of currencies, including the Yen.
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Technical analysis
Time Frame: 1 hour
USDJPY Support & Resistance Table – 30/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 158.26 | Daily R2 |
| Resistance 1 | 157.62 | Daily R1 |
| Support 1 | 155.92 | Daily S1 |
| Support 2 | 155.28 | Daily S2 |
USDJPY Indicator Table – 30/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Buy |
USDJPY Indicator / Period Table – 30/04/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
USDJPY 30/04/2024 – Reference Price : 156.78
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (0) |
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