During today’s Asian trading session, the US Dollar gained strength against the Japanese Yen, breaching the 156.00 mark. This upward movement was bolstered by Japan’s latest Industrial Production figures, which surpassed expectations, registering a 3.8% increase compared to the forecasted 3.4%. This positive economic indicator reflects a robust manufacturing sector in Japan, potentially signaling stronger economic momentum.
Furthermore, investors are keenly awaiting the release of Consumer Confidence data from the United States, which is expected to provide further insights into the economic outlook and consumer sentiment within the country. Such data is crucial as it can influence Federal Reserve policy decisions that directly impact currency valuations.
Notably, amidst these market dynamics, individuals utilizing advanced AI technology have successfully predicted these trends, capitalizing on the movements to secure a remarkable 34% return on investment within just 24 hours. For an in-depth look at how this technology facilitates such accurate market predictions, 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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