06, June 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

Currently maintains a downward movement. The sell signal is confirmed. The price is below the Ichimoku cloud.

The price is being traded below the Kijun-Sen and Tenkan-Sen, Kijun-Sen line is pointing down, the cloud is directed down.

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

Trading recommendations

From the point of view of a technical analysis the level 99.40 is interested for speculative long positions, with possible stops in the region of 99.00. This position may open up new opportunities for the long term. As an additional signal to start trading we can use breaking the resistance at 100.40.