18, February 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The pair continues finished a downtrend correction. While the pair held above 100.00, medium risks will be directed towards the growth. After breaking and consolidation at 100.00 we expect it to continue the upward trend in the direction of maximum 105.40. Only a break and consolidation below 100.00 may worsen the pair perspectives, signaling to a long-term correction.

There is a confirmed and strong buy signal. Chinkou Span is below the price, the price is above the Ichimoku cloud. Kijun-sen and Tenkan-sen are horizontal. The Cloud is neutral.

Bollinger Bands indicator shows a lateral movement as its bands are expanded and directed aside. MACD is growing, showing a buy signal.

Trading recommendations

The pair broke the cloud up. If the price does not consolidate above 102.23, it will bounce down to101.60. If it manages to stay above the growth may be continued to 103.00.