Declining consumer prices in Japan bullish for USDJPY
Technical Analysis Summary USD/JPY: Buy
| Indicator | Value | Signal |
| RSI | Buy | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy |
Chart Analysis
On 1-hour timeframe USDJPY: H1 has retraced above the 200-period moving average MA(200) which is rising itself. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 107.73. 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 107.43. 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 -
Core consumer prices declined in Japan in April. Will the USDJPY rebound continue?
Core consumer prices declined in Japan in April: core CPI declined 0.1% in April after 0.1% increase in March, when no change was expected. This is bullish for USDJPY.