12, March 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The dollar/yen at yesterday's session remained at the previously reached marks and closed at opening prices. Japan's stock market is not ready to risk, it’s more likely that the "bulls" stability continues to be supported by the prevailing sentiment after strong data from the U.S. labor market. Mitigation policy will be continued, as the rise in the sales tax in April threatens to cause a severe recession, the goal is to expand the monetary base by 60 - 70 trills. Yen is saved.

The support level is 103.00, the next - 102.23. The nearest resistance level may be 103.80.

The pair is falling. Tenkan-sen and Kijun-sen are horizontal. The southern movement is strong. The cloud is directed down. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement.
MACD histogram is in a positive zone. The histogram is descending.

Trading recommendations

There was a consolidation in the area 102.62-101.73 for a long time. The consolidation was replaced by an upward movement. Bulls will dominate, that proofs the level 102.62 breakthrough. The mark 104.05 is the main buyers’ goal.