USDJPY forecast bearish after Japanese machinery orders recovery
Technical Analysis Summary USD/JPY: Sell
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Sell | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Chart Analysis
The USDJPY technical analysis of the price chart on 1-hour timeframe shows USDJPY: H1 is retracing up after retreating following the 200-period moving average MA(200) test. We believe the bearish movement will continue after the price breaches below 127.50. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 127.90. After placing the order, the stop loss is to be moved to the next fractal low indicator, 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 -
Japan’s machine tool orders growth resumed in March. Will the USDJPY price retreating continue?
Japan’s machine tool orders growth resumed in March: the Cabinet Office reported core machinery orders rose 7.1% over month in March after 9.4% decline in February. This is bearish for USDJPY.