17, March 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The Japanese yen steadily strengthened versus the dollar on Friday’s trading. The USA Treasuries yields falling affected the investors who prefer to work with different interest rates, thus provoking a return to the yen. The current decrease was supported by the M.Draghi’s speech as well.

The support is 101.00. The resistance is 102.23, the next one - 103.00.

The pair is falling. Kijun-sen and Tenkan-sen are horizontal. The southern movement is strong. The cloud is neutral. The southern movement remains until Kijun-Sen is above the price.

Trading recommendations

We advise to consider short orders with the first goal - 101.