USDJPY Analysis: Falling Japanese GDP bullish for USDJPY

February 17, 2020

By IFCMarkets

Falling Japanese GDP bullish for USDJPY

Japan’s Q4 GDP fell 6.3% over year in 2019, much sharper than expected, following an 1.6% upwardly revised growth in Q3. This is bearish for Japanese yen against the dollar.

IndicatorVALUESignal
StochasticSell
MACDBuy
Donchian ChannelBuy
MA(200)Buy
FractalsBuy
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 109.89
Stop lossBelow 109.80

Market Analysis provided by IFCMarkets