Fundamental Analysis

• The U.S. government is considering relief measures allowing a grace period for auto tariffs.
• The U.S. dollar remains on a weakening trend, and USDJPY continues to reflect JPY strength.

USDJPY Technical Analysis

The daily chart of USDJPY shows the pair temporarily trading in the 142JPY range before rebounding slightly. As of the morning of April 15, it is hovering around 143.50JPY. The ADX is rising, indicating that the downward momentum is strengthening. With the 61.8% Fibonacci retracement level in focus, the pair may gradually decline toward the 100% level at 139.50JPY.

The moving averages are forming a perfect order, supporting the downtrend. With USD weakness progressing and capital outflows from the U.S. ongoing, USDJPY is likely to remain under pressure toward further JPY appreciation.

Day trading strategy (1 hour)

The 1-hour chart of USDJPY shows the pair hitting lows in the 142JPY range twice, with higher lows forming. However, the highs are getting lower, forming a triangle pattern. A breakout in either direction is likely.

USDJPY is trading above the 26MA and 52MA on the 1-hour chart and may rise toward the 90MA. Since the overall daily trend points to JPY strength, a sell-on-rally entry near 144.35JPY is preferable.

The intraday trading strategy is:

Stop Loss: 144.55JPY

Sell Limit: 144.35JPY

Take Profit: 143.60JPY

Support/Resistance lines

Key support and resistance lines to consider:

• 139.50JPY – Fibonacci level

Market Sentiment

USDJPY: Sell: 30% / Buy: 70%

Today’s important economic indicators

*Trading advice in this article is not provided by Milton Markets, but by Shu Fujiyasu Jr., a certified technical analyst.