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USD/JPY Technical Analysis - USD/JPY Trading: 2020-03-19
USD/JPY Technical Analysis Summary
Above 109.99
Buy Stop
Below 108.45
Stop Loss
| Indicator | Signal |
| MACD | Buy |
| Stochastic | Sell |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
USD/JPY Chart Analysis
USD/JPY Technical Analysis
On 1-hour timeframe USDJPY: H1 is rising above the 200-period moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 109.99. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 108.45. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - USD/JPY
Business activity in Japan improved more than forecast. Will the USDJPY reverse down?
Business activity improvement in Japan was better than expected: All Industries Activity index rose 0.8% in January, when a 0.3% growth was expected. Despite better than expected Japanese business activity data USDJPY setup is bullish.
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