26, December 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The sell signal is cancelled. We have a confirmed and strong buy signal. Chinkou Span below the price, the price is above the Ichimoku cloud. Northern movement remains until the price is above the line Kijun-sen. Tenkan-sen and Kijun-sen are horizontal.

Bollinger bands show the upward movement.
MACD histogram crossed the zero line upwards, giving a signal to buy.

Trading recommendations

It is quite possible that this day will remain for a correctional back-off. The nearest target of the correcting back-off will be the level support 104.00. Breakthrough of this level will open the way to the uptrend 103.30.