28, December 2015

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The yen was deprived with the growth drivers in the absence of interest to the risk-free assets. Interest in the dollar still prevailed amid the strong US data. Only by the end of the trades the situation changed and the pair dollar/yen fell.

The first support resides at 119.20, the next one is 118.40. The first resistance stands at 120.40, the next one is at 121.30.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

The potential growth targets are the resistance levels: 121.30 and 122.40.