22, February 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

Ichimoku analysis tells us that the pair came out of the side channel and directed down. The sell signal is confirmed, but weak. The price just came out of the cloud and it is located just below the Kijun-Sen (93.50).

Bollinger bands just started broadening.
MACD is weak, the indicator is down at the bottom.

Trading recommendations

If the price continues its downward movement, its first target will be the level - 92.17.
At this point it is better to stay out from opening any positions.

You’d better enter the market when you have confirmed signals for this.