27, March 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The dollar/yen traded in a more narrow side corridor, rather than on Monday and closed at opening prices. Obviously, the conflicting data from the United States didn’t impact the investors, as well as almost unchanged yield of the U.S. "Treasuries".

The support is 101.60. The resistance is 102.23.

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

The price broke a strong support level 102.23 down. The volumes near the level indicate sellers’ strength weakening, which is fraught with the rebound of the price upwards.

The potential rebound goal will be the resistance level 103.00.