Dollar - Japanese Yen Analysis Analysis

EU Session Analysis for CFD Instruments 06/09/2021

Fundamental analysis

06 September, 2021

During Asian trading, the Japanese yen lost a portion of Friday's gains against the dollar. NFP data showed a much worse state of the US labor market (than expected) in August, which was a signal that the US Federal Reserve will continue its ultra-light monetary policy in the future. First of all, the Fed will refrain from gradually reducing the program of buying bonds from the open market, an amount of 120 billion dollars a month. This is a recipe for the fall of this currency pair. At around 08:30, the US dollar is exchanged for 109,81 yen, which represents a weakening of the Japanese currency by 0,12% since the beginning of trading last night.

Technical analysis

Time Frame: 1 hour

USDJPY Support & Resistance Table - 06/09/2021

Support & Resistance	Level	Explanation
Resistance 2	110.09	Daily R2
Resistance 1	109.97	Daily R1
Support 1	109.63	Daily S1
Support 2	109.52	Daily S2

USDJPY Indicator Table - 06/09/2021

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

USDJPY Indicator / Period Table - 06/09/2021

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

USDJPY 06/09/2021 - Reference Price : 109.80

Sell

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

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