05, June 2013

USD/JPY (a 4-hour chart)

General overview

Investors expect the performance of Japanese Prime Minister Shinzo Abe. On Wednesday, he will speak on issues related to the government's growth strategy.

Falling below 99.00 points, according to him, will be sufficient to fix investors' profits. As for the growth strategy, investors will closely follow all signs that can impact the stock markets. "

Nikkei Stock Average fell by 3.7% on the first day of the week, the reason for this was the sale of futures data HSBC, and the index (PMI) purchasing managers for the manufacturing sector in China amounted to 49.2 in May from 50.4 in the previous month.

On Friday, the U.S. will publish a report on the Initial Job Claims.

The price is being traded below the Kijun-Sen and Tenkan-Sen, Kijun-Sen line is pointing down, the cloud has a neutral form.

Bands Bollinger Bands formed a side downtrend channel.
MACD began to go down.

Trading recommendations

We recommend to open short positions at the level 99.70 to 95.85 with a stop loss at 101.40.