Technical Analysis for USD/JPY: February 3
The Purchasing Managers Index (PMI) of the Japanese industrial sector reached 52.3 in opposition to the reported 52.4. The Investor's Business Daily (IBD) TechnoMetrica Institute of Policy and Politics (TIPP) Economic Optimism is at the reported median 47,8 published by the US and the New York ISM is at 718,9 in opposition to the preceding 716,6.
The first support occurs at 120.40 and at 119.20 subsequently. The first resistance lies at 121.30 and at 122.20 subsequently.
A sturdy and confirmed buy signal was found. The price is on top of the Ichimoku Cloud and it is over the Chikou Span. The Tenkan-sen creates a horizontal movement and the Kijun-sen forms an upward motion. The ascending movement will be until the price is on top of the Cloud. The MACD indicator is in a positive location. The price is recovering.