USD/JPY (a 4-hour chart)
Weak news on the Chinese economy and technical levels helped to restore interest to the. The yen grew against the dollar and other major currencies though the Japanese currency was less impressive than might be
H. Kuroda said that the central bank is not targeted to a specific levels and prices and the yen, while the market situation does not change. The yen continued strengthening. We believe that upward trend will probably be continued.
The price is below the Kijun-Sen and Tenkan-Sen, Kijun-Sen line is horizontal, the cloud has a growing shape. The buy signal is weak as the pair is in the Cloud.
Coming down the pair forms a "disservice" candle breaking through the line Tenkan-sen and heading to the Kijun-Sen. On the four-hour chart more clearly observed upward correction in prices within the cloud.
The upward movement will be in force until the price is above the Kijun-sen, if the price is fixed below the Kijun-Sen that will weaken or cancel the buy signal.
Bollinger Bands are broadening signaling the strength of the current trend.
MACD started lowering.
Experts believe that the pair has been overbought. Traders were waiting for a pretext for a correction
If the shares market continues to fall, the dollar will continue to fall in price relative to the yen. But in the long term, the bulls firmly hold their positions. If the price falls below 100, it will not be for a long.
We forecast the price trading in the Cloud, in the range 102.10-100.70.
If the pair breaks through the cloud down, it will go to the 100-th level.