11, April 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The U.S. dollar depreciated versus the Japanese yen in Asia after the weak Chinese data and the stock state in Japan weakened risk appetite. The traders believe, that this was due to the weak data on China's foreign trade, according to which the exports of the second largest economy in the world in March fell down by 6.6%, compared with last year March. The imports in the same period fell down by 11.3%.

The support is 101.60. The first resistance is 102.23, the next one is 103.00.

The Kijun-sen and the Tenkan-sen are directed downwards. The Tenkan-sen is crossing the Kijun-sen down. The southern movement is strong as the pair is below the Cloud. The Cloud is directed down. The southern movement remains until Kijun-Sen is above the price.

The support is at 101.60. The resistance is 102.23.

The MACD histogram is still located in the negative zone and it is lower then its signal line.

Trading recommendations

The volumes remained in the downgrade zone. The potential goal for the falling is the support level 101.60.