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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your money. Read full risk warning.

Dollar - Japanese Yen Analysis Analysis

EU Session Analysis for CFD Instruments 01/11/2021

Fundamental analysis

01 November, 2021

The USD/JPY pair increased to around 114.29 during the Asian session.

The Bank of Japan, as expected, stuck with its dovish stance at its meeting and the yen showed no reaction. The BoJ cut its consumer inflation forecast for the year ending in March 2022 to 0% from 0.6% and, as expected, the overall takeaway reinforced market bets it will lag other central banks in dialling back crisis-mode policies.

Technical analysis

Dollar - Japanese Yen Analysis Analysis Technical analysis 01/11/2021
Time Frame: 1 hour

USDJPY Support & Resistance Table - 01/11/2021

Support & Resistance Level Explanation
Resistance 2 114.740 Daily R2
Resistance 1 114.551 Daily R1
Support 1 114.047 Daily S1
Support 2 113.858 Daily S2

USDJPY Indicator Table - 01/11/2021

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

USDJPY Indicator / Period Table - 01/11/2021

Indicator / Period Day - BuyWeek - BuyMonth - Buy
MACD( 12;26;9) Sell BuyBuy
RSI (14) Buy BuyBuy
SMA 20 Buy BuyBuy

USDJPY 01/11/2021 - Reference Price : 114.299

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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US Dollar - Japanese Yen Chart
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