08, March 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

Yen continues to grow. Yesterday the pair grew to the planned level 93.93 and without stopping continued to move to the level 94.65 where it stopped

The pair is expected to continue going north.

The yen is trading above the Ichimoku cloud, the buy signal is strong and confirmed.

The price is above the Kijun-Sen and Tenkan-Sen lines. The cloud is directed up.

Bollinger Bands are broadening.
MACD is going up.

Trading recommendations

The pair continues growing.

The first goal of the movement is level 94.65, which the price tested, but did not fix at it. If yen consolidates at it the pair will move to the level 96.00.

Opening orders you need to consider the fundamental news and the time of its release.