06, September 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The yen sales rates fell and at the market the Japanese currency spent all the time in the lateral range on Wednesday. It is obvious technical factors and expectation of Bank of Japan decisions at the next meeting on a rate disposed the market to care.

USD/JPY has been growing the whole week and traders are ready for the break through 99.80/100.00.

Tenkan-Sen and Kijun-Sen are crossed in a descending "dead cross". Kijun-sen is moving in a horizontal direction parallel to the cloud, and the Tenkan-Sen continues to grow. The price is above the cloud. The Cloud is neutral.

Bollinger Bands follow the price up. The indicator shows a high volatility.
MACD is in a positive area and is growing.

Trading recommendations

To confirm their power the bulls need to break the level 99.80 and the resistance line100.00.

The nearest target for the growth is the mark 100.65. If bulls manage to break this level they can reach 101.00 and101.25.