USD/JPY Technical Analysis | USD/JPY Trading: 2020-01-23 | IFCM UAE
IFC Markets Online CFD Broker

USD/JPY Technical Analysis - USD/JPY Trading: 2020-01-23

USD/JPY Technical Analysis Summary

Accelerometer arrow
Strong SellSellNeutralBuyStrong Buy

> 109.62

Buy Stop

< 109.42

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2451
IndicatorSignal
Stochastic Buy
Donchian Channel Neutral
MA(200) Sell
Parabolic SAR Buy
Fractals Sell
MACD Buy

USD/JPY Chart Analysis

USD/JPY Chart Analysis

USD/JPY Technical Analysis

On 1-hour timeframe USDJPY: H1 is retracing higher toward the 200-period moving average MA(200) which is falling itself. However the stochastic indicator has formed a bullish divergence.

We believe the bullish momentum will resume after the price breaches above the fractal high at 109.62. 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 109.42. 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 - "}[/T]

Japan’s trade deficit widened less than expected to 100 billion yen in December 2019. Will the USDJPY start rising?

IFCM Trading Academy - New era in Forex education
Pass Your Course:
  • Get Certificate
trading academy

The best trading conditions and high-level services for our clients

We are ready to assist you on any issue 24 hours a day.

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

Close support
Call to Skype Call to WhatsApp Call to telegram Call Back Call to messenger