23, September 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The yen fell against the most currencies after the Bank of Japan governor Haruhiko Kuroda said that the regulator would not hesitate to change the monetary policy if it was necessary.

The American dollar is actively strengthened against the Japanese yen during the second month. The pair USD/JPY upward trend is moving in the rising channel direction and is actively supported by the trade volumes.

The price is finding the support at 108.50, the next one is at 108.00. The price is finding the first resistance at 109.00, the next one is at 109.40.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is consolidating.

Trading recommendations

The upward bounce potential target are 102.60, 102.75. We believe after this the growth will be continued.