In today’s Asian trading session, the US Dollar saw an upward movement against the Japanese Yen, surpassing the 155.000 mark. Market participants are noting a lack of significant economic data releases from both Japan and the United States, which typically provides insights into the financial health and potential policy shifts in these economies. In such situations, traders often rely on broader global economic indicators and market sentiment to guide their decisions.
Amidst these market conditions, a remarkable trend has been observed where users utilizing advanced AI technology have been able to navigate the forex market effortlessly. Reports indicate that this AI has enabled users to predict market trends on autopilot, achieving an impressive 34% Return on Investment within the last 24 hours. Learn more about this AI-powered trading advantage.
Technical analysis
Time Frame: 1 hour
USDJPY Support & Resistance Table – 17/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 156.63 | Daily R2 |
| Resistance 1 | 156.25 | Daily R1 |
| Support 1 | 155.27 | Daily S1 |
| Support 2 | 154.89 | Daily S2 |
USDJPY Indicator Table – 17/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Sell |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Neutral |
USDJPY Indicator / Period Table – 17/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
USDJPY 17/05/2024 – Reference Price : 155.74
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (0)Sell (1) |
👉Explore AI-powered Automated Trading Today! Register for a free trial now!
✅Read about the automated trading software on Investing.com
