02, December 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The U.S. dollar continued to grwo and reached a new six-month high versus the Japanese yen at Friday's session. The reason for the growth have become the same sentiment caused by the Bank of Japan statement on the continuation of easing policy, which increases the polarity of the prospects for monetary policy of the USA and Japan. Moreover, the stock market was impacted by the Japan's yen, where the Nikkei rose again to 1.8 %. There is a strong and confirmed buy signal, as the chart is consolidated below

Chinkou span, and the Ichimoku cloud is below the price. Tenkan-sen and Kijun-sen are directed upwards. Chinkou Span is below the price, the cloud is growing. Tenkan-Sen and Kijun-sen are horizontal

Bollinger Bands indicates the change of the trend. The bands are widening and are going upwards.
The MACD is in a positive area right now. The histogram is decreasing.

Trading recommendations

Currently the key level is 102.20, which is located just little below the pair. If this level supports the corrective decline rates, it will cause the bounce up for level 103.20.