18, December 2015

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The pair USD/JPY has increased. The Japanese secondary report left the pair indifferent. The PMI manufacturing sector Nikkei pointed out to the slight growth slowdown - the indicator amounted to 52.5 against 52.6 in November.

The first support resides at 122.40, the next one is 121.30. The first resistance stands at 123.20, the next one is at 123.80.

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 an upward 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 of 123.20, the next one is 123.80.