USDJPY Analysis: Japan’s industrial production downgrade bullish for USDJPY

June 12, 2020

By IFCMarkets

Japan’s industrial production downgrade bullish for USDJPY

Japan’s industrial production for April was downgraded: the final estimate was downgraded to -9.8% from -9.1% of preliminary estimate, following a 3.7% decline in March. This is bullish for USDJPY.

IndicatorVALUESignal
RSINeutral
MACDBuy
Donchian ChannelBuy
MA(200)Sell
FractalsBuy
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 107.55
Stop lossBelow 106.77

Market Analysis provided by IFCMarkets