12, September 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

USD / JPY reached 100.53 before President Obama finished his speech explaining why Syria is an international threat to humanity. At that moment bulls outweighed bears in the high volatility.

Confident consolidation over 100 would help to achieve the levels of 101 and 102. Another failure to 100 can send the pair under 99, but it looks like it will not stay there long.

Tenkan-Sen and Kijun-Sen are crossed in a descending "dead cross". Kijun-sen is moving in a horizontal direction parallel to the cloud, and the Tenkan-Sen continues to grow. The price is above the cloud. The Cloud is growing.

Bollinger Bands follow the price up. The indicator shows a high volatility.
MACD is in a positive area and is descending.

Trading recommendations

Breakthrough of the resistance line up 100.50, will allow the pair to overcome another strong barrier, thus opening the way to 100.70, 101.00, 101.50.