06, May 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

USD/JPY completed a Friday trading with a 100 points jump to the level 97. At first, the pair was trading lower, but after the ECB press conference the pair grew up.

Now the pair has the potential to grow to 99 or higher.

USD/JPY is above the Kijun-Sen and Tenkan-Sen, Kijun-Sen line is directed down, the Cloud is neutral.

Bollinger bands are narrowing, the middle line is directed upward.
The MACD histogram has left a negative zone supporting a buy signal.

Trading recommendations

The pair has moved beyond the Ichimoku cloud. If the pair USD/JPY is able to consolidate above the Cloud it will have a good chance to reach the 100 level again.

If the pressure on the USD/JPY renews it can go to the level 97.80. The next target of the southern movement is 96.55.