14, July 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

In fact, the Japanese currency showed a growth in trading against the dollar. The yen continues to get the support from the events in the U.S. government debt market, where is a further decline in "Treasuries" yields as well the stock markets optimism lack due to the newly heightened concerns over the global economic growth.

The rebound from the resistance level of 101.75 was followed by an active the U.S. dollar reduction against the Japanese yen. The falling dollar has allowed the sellers to break at the volume below the two support levels of 101.45 and 101.25.

Trading recommendation

We suppose the pair will go to 101.60 first. Having overcome the first target the price might go downwards to 101.00.