In today’s Asian trading session, the US Dollar saw a notable rise against the Japanese Yen, crossing the 156.000 threshold. This movement reflects a robust stance for the Dollar amidst quiet economic news from Japan, which has no significant data releases scheduled for the day. All eyes are now turned towards the United States, where the Producer Price Index (PPI) data is due for release. This key indicator is essential as it measures the average changes in selling prices received by domestic producers for their output and is a critical barometer for inflationary pressures that could influence future monetary policy decisions.
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Technical analysis
Time Frame: 1 hour
USDJPY Support & Resistance Table – 14/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 156.97 | Daily R2 |
| Resistance 1 | 156.72 | Daily R1 |
| Support 1 | 156.08 | Daily S1 |
| Support 2 | 155.83 | Daily S2 |
USDJPY Indicator Table – 14/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Sell |
USDJPY Indicator / Period Table – 14/05/2024
| 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 14/05/2024 – Reference Price : 156.40
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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