USD/JPY (a 4-hour chart)
The yen against the dollar could reach four-year low point, Japanese investors have focused in the direction of foreign bonds. This movement was expected as the Bank of Japan unveiled an ambitious plan to stimulate the economy.
However, Tokyo calls, related to the revitalization of the economy, have an impact on other world powers which are not in the best economical position and now complain.
The price is above the Kijun-Sen and Tenkan-Sen, Kijun-Sen line is going up, the cloud has a growing shape. The buy signal is strong and confirmed.
The upward movement will be in force until the price is above the Kijun-sen, if the price is fixed below the Kijun-Sen that will weaken or cancel the buy signal.
Bollinger Bands are directed upwards and widening indicating a continuation of the growth.
The MACD has stopped growing, the histogram has reached its maximum. The signal line can cross the histogram down in the near future, giving a sell signal.
The pair is being traded around 102.30, the first serious resistance awaits the pair at 102.50 where the part of the applications associated with the option are located.
If the pair breaks this level, it will go to 103.50.