25, February 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The pair is in a correction right now. Its positions have not changed significantly since the end of last week. The pair was in a flat and began a downward movement on Thursday. This movement ended with a correction on Friday. It is difficult to forecast a movement of the pair, its targets are not clear.

Bollinger Bands are broadening. Its bandы still form the side channel.

MACD is going up, indicating that the upward might begin.

Trading recommendations

It is better to stay away from opening any position now. The price has not set its ming where to go yet.

If the price continues its downward movement, its first target will be level - 93.93, then 93.50.

You'd better open orders only after getting a confirmed signal to enter the market.