26, November 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The course of trading, before the arrival of U.S. market participants will have the effect of stock index Nikkei 225 - continued growth in market share, will give impetus to the pair to grow to the strong resistance 101.52. In the U.S. trading session, in the case of publication of negative data from the United States we can expect a short-term growth of the Japanese currency.
The support levels are: 100.85 - 100.45 and resistance levels are: 101.52-102.50.

There is a strong and confirmed buy signal, as the chart is consolidated below Chinkou span, and the Ichimoku cloud is below the price. Tenkan-sen and Kijun-sen are directed upwards. Chinkou Span is below the price, the cloud is growing. Tenkan-Sen and Kijun-sen are horizontal

Bollinger Bands indicates the change of the trend. The bands are widening and are going upwards.
The MACD is in a positive area right now. The histogram is decreasing.

Trading recommendations

We can see the correction pullback to the nearest support level 101.00 – 100.85. The consecutive trend growth with the upbeat of the 101.50 level is expected.