05, March 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The Japanese currency as the most popular refuge, grew versus the dollar. The tension between Ukraine and Russia reduced traders' desire to take risks, and that supported the yen.

The pair falling is stopped, but until it is traded below 102.10 we should not exclude its falling to the key support at 100.00-100.40. Meanwhile, with a stable trading above 100.00 medium-term risks remain ascendant.

There is a confirmed and strong sell signal. Chinkou Span is above the price, the price is in the Ichimoku cloud. Kijun-sen is horizontal, Tenkan-sen is directed upwards. The Cloud is directed down.

Bollinger Bands indicator shows a downward movement. MACD histogram is in a negative zone. The histogram is growing.

Trading recommendations

The pair updated the last month minimums. Apparently, the downward trend is expected to be continued
The potential target for a rebound will be the support 101.00.