20, February 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The Japanese yen fell versus all majors the reason for that are the statements of the Bank of Japan appeared after the rate meeting.

The pair’s growth is still limited, but risks remain directed towards the growth to a maximum of 105.40.

There is a confirmed and strong buy signal. Chinkou Span is below the price, the price is above the Ichimoku cloud. Kijun-sen and Tenkan-sen are horizontal. The Cloud is neutral.

Bollinger Bands indicator shows a lateral movement as its bands are expanded and directed aside. MACD is growing, showing a buy signal.

Trading recommendations

The price updated last week maximum 102.70 on high volume, but that the growth of the U.S. dollar has been stopped. The pair is correcting to a strong support level 102.00.