April 23, 2020
By IFCMarkets
USDJPY falls despite weak Japanese data
Japan’s manufacturing sector contraction broadened in April: Markit’s manufacturing PMI fell to 43.7 from 44.8 in March. Readings above 50.0 indicate industry expansion, below 50 indicate contraction. This is bullish for USDJPY, but the technical setup is still bearish.
| Indicator | VALUE | Signal |
|---|---|---|
| MACD | Sell | |
| Stochastic | Buy | |
| Donchian Channel | Sell | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
Summary of technical analysis
| Order | Sell |
| Buy stop | Below 107.45 |
| Stop loss | Above 107.85 |
Market Analysis provided by IFCMarkets
