USD/JPY (a 4-hour chart)
According to the Association of Japanese car dealers, auto sales fell in February 2013. The automobile Industry sixth consecutive month has been losing its positions. Analysts expect continuation of the falling if the government does not support the industry. Still there is a plus in this situation, it is a good reason to upgrade the equipment and to review approaches to the sales.
The buy signal is weak. The pair corrected Friday. The yen fell into the cloud and is being traded in it.
The price is below the Kijun-Sen and Tenkan-Sen, the indicator line directed sideways, suggesting a flat.
The Chinkou Span is higher than the price that confirms the current buy signal and indicates a bullish mood of the players.
Bollinger Bands are broadening. The indicator channel is descending; the middle line is going down.
MACD histogram is moving in a negative zone and falling. Indicator shows the continuation of the correction.
The pair continues working out a buy signal still the pair is in the cloud that can change the direction of the trend.
The pair is trading in the cloud, the indicators suggest a short-term correction. If it continues the pair is to go down into the cloud and then to the level 94.65.
Should the pair return to the northern movement, the first goal will become 96.00. After consolidation at it the price will move up to the level 96.55.