Dollar - Japanese Yen Analysis Analysis

EU Session Analysis for CFD Instruments 23/02/2021

Fundamental analysis

23 February, 2021 Research Department

The USD/JPY pair inched lower to 105.03 on Tuesday. The pair fell sharply on Monday as the Greenback weakened. Japan’s Corporate Services Price Index (CSPI) fell 0.5%, Year-over-Year. In the United States, the Dallas Fed Manufacturing Business index for February printed at 17.2. That was an improvement over January’s figure of 7.0. The U.S. Leading Index for January was reported to be 0.5%, Month-over-Month, as expected.

Technical analysis

Time Frame: 1 hour

USDJPY Support & Resistance Table - 23/02/2021

Support & Resistance	Level	Explanation
Resistance 2	105.53	Daily R2
Resistance 1	105.34	Daily R1
Support 1	104.82	Daily S1
Support 2	104.63	Daily S2

USDJPY Indicator Table - 23/02/2021

Indicator	Signal
SMA 20	Sell
SMA 50	Sell
SMA 100	Sell
MACD( 12;26;9)	Sell
RSI (14)	Buy
Stochastic ( 9;6;3)	Buy

USDJPY Indicator / Period Table - 23/02/2021

Indicator / Period	Day - Sell	Week - Buy	Month - Sell
MACD( 12;26;9)	Sell	Sell	Sell
RSI (14)	Buy	Buy	Neutral
SMA 20	Sell	Buy	Sell

USDJPY 23/02/2021 - Reference Price : 105.07

Sell

Simple Moving Average	Buy (0)	Sell (3)
Technical Indicators - Oscillators	Buy (2)	Sell (1)

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

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