12, January 2016

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The price resumed its decline amid the Chinese economic prospects continue pressuring the stock markets, the yen acts as a refuge currency in this case. The USA published the labor market conditions index: 2,9 against the forecasted 0,0.

The first support resides at 117.00, the next is at 116.20. The first resistance stands at 117.80, the next one is at 118.40.

The indicator shows a strong sell signal. The price is under the Cloud and in under the Chincou-span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The downward movement will be until the price is below the Cloud.

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

The potential decrease targets are two levels of support: 117.00 and 116.20.