10, January 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The pair strengthened a bit, but still it was unable to test the maximum near 105.40. We believe that the pair will be neutral until it is near 104.00. In the future a break above the maximum marks can lead to a continued growth in the long-term uptrend.

There is a confirmed and weak sell signal. Chinkou Span is above the price, the price is in the Ichimoku cloud. The southern movement remains until the price is below the Kijun-sen. Tenkan-sen and Kijun-sen are directed down.

Bollinger Bands indicator shows that a downward movement as its bands are expanded and directed downwards. MACD is decreasing, showing a sell signal.

Trading recommendations

Bullish trend is more than relevant now despite the fact that prices in the last week failed to update the maximum 105.40.

We can about the rising trend continuation if the price breaks and consolidates above 105.40. In this case the way to 106.00 will be opened.