16, December 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

Yen approached annual lows vs. dollar on Thursday. According to the poll of QUICK, most analysts in Japan expect that the Bank of Japan will start a further monetary policy easing in spring of 2014.

Chinkou-span is above the price, the pair is above the Ichimoku cloud. Tenkan-sen is directed upwards, Kijun-sen is horizontal. Chinkou Span is below the price, the cloud is growing.

Bollinger Bands still indicate an upward movement. The bands are widening and directed upwards. MACD is located in a positive zone, slightly below its signal line.

Trading recommendations

The pair has updated its high points. Today we expect a reduce structure development back to the level 102.86. Next we expect another update a growth to the level 104.10. Attention, the reducing impulses are possible.