19, July 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The current buy signal is confirmed but weak as Chinkou Span is below the price, and the price is below the Ichimoku cloud. The price grew yesterday having stopped in the area 100.74. In the case of overcoming this level the downward movement will be continued to the support level 101.30.

The upward movement will be relevant as long as the price is above Kijun-sen. The price broke through the Cloud and it is being traded above it right now. The Cloud is neutral.

Chinkou Span is below the price, which confirms the current sell signal and indicates a bearish market sentiment of the pair.

Bollinger Bands show a continuation of the upward movement.
MACD is on the zero level.

Trading Recommendations

The pair continued to grow and shows a stable trading above 98.70, the risks are directed towards growth to consolidate above 100.00 and a breakthrough in the direction of maximum 103.75.

If the pair falls to grow it will signal the development of a long falling to test 92.50-93 support area.