08, January 2016

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

We believe that the raw materials low prices as well as the Chinese economy state shall keep the interest to the yen. Today the market will pay its attention to the USA Non-Farms.

The first support resides at 117.80, the next is at 117.00. The first resistance stands at 118.40, the next one is at 119.20.

The indicator shows a strong sell signal. The price is under the Cloud and in under the Chincou-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 below the Cloud.

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

Trading recommendations

We may expect the flat trades at the level of 117.80.