28, April 2016

USD/JPY (a 4-hour chart)

 USD/JPY (a 4-hour chart)

General overview

All Industry Activity Index (m / m) decreased for the last month (-1.2% vs. the forecast of -1.3%). These data were revised downward to 2.0%. Experts expected the index to decline to 1.3% over the past month. The trading activity was low as traders waited for the Fed and the Bank of Japan meeting outcome.

The price is finding the first support at 110.60, the next one is at 109.60. The price is finding the first resistance at 111.40, the next one is at 112.20.

There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

The buyers need to break above 111.40 for a steady growth. The way to the mark 112.20 will be opened after this breakthrough.