USDJPY Analysis: Rising Japanese wages bearish for USDJPY

December 6, 2019

By IFCMarkets

Rising Japanese wages bearish for USDJPY

Average wages in Japan rose 0.5% over year in October after a 0.5% rise in September. Will the USDJPY decline?

USDJPY falling below MA(200)

On 1-hour timeframe USDJPY: H1 is in downtrend, below the 200-period moving average MA(200) which is rising. The Stochastic indicator is in the oversold zone.

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Technical Analysis Summary

Order Sell
Sell stop Below 108.55
Stop loss Above 108.75

Market Analysis provided by IFCMarkets