15, April 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The dollar decline versus the yen was stopped and the dollar even rose up a little at the end of the day. The interest to the yen is steadily declining due to the U.S. “Treasuries” backdrop sustained profitability and due to the risk appetite absence in the stock markets. At the same time the investors were positioned to buy the yen by the BoJ decision to leave the monetary policy basic parameters unchanged, despite sales tax growth.

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

Trading recommendations

The pair is decreasing. If the price keeps going down it will test 101 soon.
The rebound may happen to 102.23 any time now.