18, November 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The Japanese yen declined against the dollar at the yesterday trades. The attitude towards the yen remained under the BoJ recent decision influence to increase the easing program volumes. However, the pair USD / JPY demand has reduced.

The corrective price decline was formed. Then the pair continued the upward movement.

The price is finding the first support at 115.80, the next one is at 114.60. The price is finding the resistance at 117.00.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

We believe the growth will be continued now. The first target is the level 117.00.