26, March 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The dollar/yen remained in a sideways corrective corridor at yesterday's session. The pair ended the day at the support range level and the day was closed at an almost opening prices. Obviously, the yen remains under the influence of the divergent moods, on the one hand, and due to a decrease in intensity of geopolitical plan that provokes the investors’ desire to leave the safe haven on the other, the situation associated with the financial flows return to Japan by the end of the financial year, when the interest in the yen rises up.

The support is 101.60. The first resistance is 102.23, the next one is 103.00.

The pair is growing. Kijun-sen and Tenkan-sen are horizontal. The northern movement is weak as the pair is in the Cloud. The cloud is neutral. The northern movement remains until Kijun-Sen is below the price.

MACD is still in a positive area, but below its signal line. The indicator is gradually declining sending a sell signal.

Trading recommendations

To continue an upward trend buyers need to break and consolidate above 102.23. In this case, the pair might grow to 103.00.