USD/JPY (a 4-hour chart)
The Big Twenty statement coincides with the statement issued in February, when the pair USD/JPY was trading around 93 and before the Bank of Japan started to stimulate its economy.
In the February communiqué Japan has not been criticized for being allowed, or, as some have said, has initiated, reducing the yen in the 4th quarter of 2012. Will this be enough for the pair to grow to 100 will be seen soon.
The pair is above the Kijun-Sen and the Tenkan-Sen, the Kijun-Sen line is directed upwards, the Cloud resumed its growth.
Bollinger bands began to expand and directed upwards.
The MACD histogram is back in positive zone and began to grow.
Indicators confirm the northern movement.
We believe that in the short term the pair will be in the flat or continue an upward trend.
The goal of the northern movement is the 100 level, the last time the pair was not able to overcome it. Let's see if it has enough power to do it this time.
One can go long after a steady penetration of 99.30.
We can speak about the sales can only if the pair returns to the Cloud.