10, May 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The price is above the Kijun-Sen and Tenkan-Sen, Kijun-Sen is directed upward, the Cloud is growing. The buy signal is strong and confirmed.

The pair was able to overcome an important psychological level - 100 yesterday.
The upward movement will be strong as long as the price is above the Kijun-sen. If the price is fixed below the Kijun-Sen, that will weaken or cancel the buy signal.

Bollinger Bands are directed sideways and widen that indicates a continued growth.
MACD is rising again.

Trading recommendations

Yesterday the pair finally managed to surpass leve 100. The price broke the umpteenth level and tested the 100.70. This week the pair is unlikely to be able to master and this level. We expect a correction after yesterday's growth. It is likely that the pair will go again below the hundredth or will trade around it.