19, February 2016

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The USD/JPY resumed its decline. Oil Industry Ministers meeting results disappointed the market and provoked "black gold" prices sharp decline. It traditionally supported the yen as a safe-haven.

The first support resides at 113.80, the next is at 113.00. The first resistance stands at 114.60, the next one is at 115.40.

The price is in the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows an upward movement.

The MACD indicator is in a neutral territory. The price is decreasing.

Trading recommendations

After the support level of 113.00 breakthrough down the way to the support 112.20 will be opened.