16, September 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

Further growth of the USD/JPY will be promoted by a number of factors. First of all, it is the improved economic situation in Japan, causing the growth of the stock market, and decisive action of the country's central bank. External factors such as the recovery of the global economy, approaching the reduction QE in the U.S. and reduced tension in the Middle East, also contribute to the weakening of the yen.

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

The bouncing from the support level 99.10 was accompanied by the reverse breakdown of the rising trend line and the next resistance level 99.80 upwards. The pair needs to break 100.00 to continue growing. In this case the way to 100.50, 101.00 will be opened.