07, May 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The pair has resumed the growth, the level 100 is within a reach.

At the end of last week, the yen jumped to the level 97.00, that can be regarded as a catalyst for growth to a long-awaited high - 100.

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

Bollinger bands are broadening, the middle line is directed upward.
The MACD histogram has left a negative zone, it is growing, 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.