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Analysis of USD/JPY for 4h

7/11/2024

Analysis of USD/JPY for 4h

Analysis of USD/JPY

Based on the provided data for the USD/JPY pair with a 4-hour interval, here is a short analysis:

1. **Price Movement**: The price of USD/JPY has been fluctuating within a relatively narrow range, with the price closing around 161.64 to 161.70 in the most recent data points.

2. **Relative Strength Index (RSI)**: The RSI values are mostly above 50, indicating that the market has been in a slightly overbought condition. The RSI values range from 57.98 to 64.99, suggesting a moderate bullish momentum.

3. **Moving Average Convergence Divergence (MACD)**: The MACD indicator is positive in all data points, with values ranging from 0.01749 to 0.16878. The MACD histogram is mostly positive, indicating a bullish trend.

4. **Moving Averages (MA)**: The price is generally above the Simple Moving Average (SMA), Exponential Moving Average (EMA), and Weighted Moving Average (WMA) in the recent data points, suggesting a bullish bias.

5. **Overall Trend**: The overall trend based on the indicators (RSI, MACD, and MA) appears to be bullish, with signs of upward momentum in the USD/JPY pair.

6. **Key Levels**: The price levels to watch are around 161.23 (support) and 161.84 (resistance) based on the recent price action.

In conclusion, the USD/JPY pair seems to be in an uptrend with bullish momentum based on the RSI, MACD, and moving averages. Traders may consider looking for buying opportunities or monitoring for a potential breakout above the resistance level for further upside potential.

MACD of USD/JPY

This is not investment advice. Remember to verify the information provided here.

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