In today’s Asian trading session, the US Dollar gained strength against the Japanese Yen, surpassing the 156.000 level. This uptick in value reflects broader market dynamics and investor reactions to recent economic data releases.
Japan’s latest Industrial Production figures were released earlier today, showing a stronger-than-anticipated performance with a 3.8% increase, outpacing the forecast of 3.4%. This positive surprise indicates a robust manufacturing sector in Japan, which could have implications for the broader economy and potentially influence currency valuations.
Looking ahead, market participants are also focused on the United States, where Consumer Confidence data is expected to be published. This indicator is pivotal as it sheds light on the economic sentiment among American consumers and can drive USD fluctuations. A strong report could reinforce the dollar’s strength, whereas a weaker-than-expected result might temper gains.
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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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