24, January 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The dollar strengthened yesterday its positions. Its activity was associated with the Bank of Japan's reports that has not made any changes in its policy.

There is a confirmed and strong sell signal. Chinkou Span is below the price, the price is below the Ichimoku cloud. The southern movement remains until the price is below the Kijun-sen. Kijun-sen is crossing Tenkan-sen downwards.

Bollinger Bands indicator shows that a downward movement as its bands are expanded and directed downwards. MACD is decreasing, showing a sell signal.

Trading recommendations

The pair fell sharply on Thursday. We expect a rollback up to the level 103.80 now.