18, March 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The dollar/yen pair remains in a downtrend. The U.S. bond yields falling, the escalating of the geopolitical tensions between Russia and Ukraine, in fact, in the center of Europe, as well as the repatriation of profits by Japanese corporations before the completion of the financial year, affect the risk appetite level, and identify a growing interest in the yen as in the refuge currency. As a result, the yen strengthened for the week, not only versus the dollar, but also versus the European majors.

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

The weekly 100.60 trend line is located on the way of sellers, which is the fairly strong support. The trend line retest can cause a reverse bounce up. The purpose of this rebound is the resistance 103.25.