07, March 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The pair dollar/yen held Thursday trading in divergent oscillations and ended the session with a growth. The dollar received the support from a bit grown up American "Treasuries" and the growth of the stock market in Japan, but with the release of the news on the U.S. economy the support switched to sides of the yen, which leveled much of the loss.

The support is around at 102.23, the resistance is at 103.00, the next - 103.80.

There is a confirmed and strong buy signal. Chinkou Span is below the price, the price is above the Ichimoku cloud. Kijun-sen and Tenkan-sen are directed upwards, both lines are horizontal. The Cloud is directed upwards.

Bollinger Bands indicator shows a northern movement.
MACD is in a positive zone. The histogram is growing.

Trading recommendations

The strong resistance level 102.65 has been limited the upward trend for several months. The pair came to the level on declining volumes. The consolidation near 102.65 will lead to a pullback down. The immediate goal is the support level 102.00.