24, April 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The 102.50 break occurred at low volumes which may mean a false breakdown. However, a quick return back has not occurred. There is continuous consolidation in the market.

MACD is in the positive area, the indicator gives a sell signal.

Trading recommendations

The support level 102.50 is the key one for both buyers and sellers. While this mark is not broken down, the consolidation above is good signal for a bounce up. The potential growth targets are the marks 102.00 and 103.45.