In today’s early trading hours within Asian markets, the US Dollar gained strength against the Japanese Yen, surpassing the 155.000 level. This uptick occurs in a quiet data environment, with Japan and the United States not scheduled to release any significant economic updates today. The lack of fresh economic data leaves currency traders focusing on broader market sentiments and geopolitical developments to guide their trading decisions.
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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) |
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