28, March 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

USD/JPY is being trading at the low range - about 93. The sell signal is confirmed. The price is below the Kijun-Sen and Tenkan-Sen, Kijun-Sen line directed to the side, the cloud is going down. The pair is trading under a cloud. Yen is working out a "dead cross".

If the pair is fixed above Kijun-Sen, it can make another attempt to grow.

We recommend opening short orders.

Bollinger Bands lines are narrowing and going down. The indicator confirms the downward movement.

MACD histogram left the zero area and started to go down.

Trading recommendations

The correction is likely to continue, the pair may fall below 93.00.

Indicators suggest the downward movement.

If the pair consolidates under the cloud, the downward movement will continue. In this case, the first target will be the level 93.40. The pair will go it after fixing at 93.93.

Should the pair return to the northern movement, the first goal will become 96.00. After consolidation at it the price will move up to the level 96.55.