USD/JPY (a 4-hour chart)
We expect the further easing of monetary policy, which has already provoked the yen falling against the dollar. Analysts believe that this trend is likely to continue.
USD/JPY is being trading at the low range - about 94. The sell signal is confirmed. The price is below the Kijun-Sen and Tenkan-Sen, Kijun-Sen line directed to the side, the cloud has a neutral form. The yen is being traded under the cloud.
We recommend opening short orders.
Bollinger Bands lines are expanding. The indicator confirms a downward movement.
MACD histogram left the zero area and started to go down.
Indicators suggest the downward movement.
If the pair consolidates under the cloud, the downward movement will continue. In this case, the first target will be the level 93.93. The pair will go it after fixing at 94.65.
Should the pair return to the northern movement, the first goal will become 96.00. After consolidation at it the price will move up to the level 96.55.