26, July 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The upward movement will be relevant as long as the price is above Kijun-sen. The price broke through the Cloud and it is being traded above it right now. The Cloud is neutral.

Chinkou Span is below the price, which confirms the current sell signal and indicates a bearish market sentiment of the pair.

Bollinger Bands show a continuation of the upward movement.
MACD is on the zero level.

Trading Recommendations

It is quite possible that the upward price movement will be developed in the area of resistance between the local downward trend and the level 100.87, then it will move down to the 98.68 support area.