07, September 2015

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

There was the moderately positive dynamics in the stock markets and in this regard, investors do not need to direct their capital into the "safe haven" yen. Nom Farms were published. The data showed the decrease to 173K vs earlier 245K. The economist forecasted 220K.

The dollar/yen pair failed to develop the growth wave and is trading the decline. The support level of 119.20 was broken downwards.

The price is finding the first support at 118.40, the next one is at 117.80. The price is finding the first resistance at 119.20, the next one is at 120.40.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

After the support level of 118.40 breakthrough down the way to the support 117.80 will be opened.