07, June 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The pair recovered when the Nikkei unexpectedly returned to positive area, despite the Wall Street fall on Wednesday.

One senior dealer in Tokyo said that Japanese investors who are connected with the state probably buy shares in order to maintain the market.

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 has a neutral form.

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

Trading recommendations

We have the following options for further development of the situation:
The basic scenario: The pair will be sold below 97 that will open the way to 95.90.

The second scenario: The pair will be correcting to 98.90.