08, June 2016

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

If the USA does not raise the interest rates next week Japanese regulator may start to use its arsenal of political means earlier than it had planned. A strong yen limits the exports and consumer prices recovery in the country.

Current situation

The dollar could reverse some of its losses yesterday. The pair grew and stopped near the resistance 108.00 at Asian session. During the day the pair fell to the support of 107.00 where the USD/JPY ended the Tuesday trades. The resistance is at 108.00, the support is at 107.00.

MACD indicator is in a negative area. MACD stopped its growing. RSI approached the oversold level of 30.

Trading recommendations

The break above 108.00 will aim the pair at the 109.00 level.