In today’s Asian trading session, the US Dollar appreciated against the Japanese Yen, surpassing the 156.000 level. This movement comes in the wake of significant economic updates, where Japan reported an unexpected increase in its Industrial Production figures, which rose to 3.8%, exceeding market forecasts of 3.4%. This development indicates a robust industrial sector, potentially signaling strengthening economic fundamentals within Japan.
Looking ahead, market participants are keenly awaiting the release of Consumer Confidence data from the United States. This indicator is crucial as it provides insights into economic sentiment and consumer spending, which are key drivers of the economy. Given the current dynamics, investors are using advanced AI tools to navigate the forex market. Remarkably, those utilizing AI technology have reported forecasting market movements on autopilot, resulting in a significant 34% return on investment within the last 24 hours. For more details on leveraging AI in forex trading, click here.
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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