10, November 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The pair dollar/yen tried to continue its growth on the common sentiment for the "dollar", but its attempts were broken off amid the Japan stock market quotations decrease where the Nikkei fell by almost 1%.

The dollar/yen managed to break the level of 114.60 upwards and consolidate above. Currently the pair is testing the support level of 114.60.

The price is finding the first support at 114.60, the next one is at 113.50. The price is finding the resistance at 115.80.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is correcting.

Trading recommendations

The pair is close to the strong resistance 115.80. The price rebounds from this mark.