USD/JPY (a 4-hour chart)
Japan intends to bring the economy out of recession with the help of a grand experiment. The confidence in the success of this event is not great. It is believed that during the meeting of the Bank of Japan that is held the next week, his manager Mr. Kuroda should announce an action plan for large-scale quantitative easing. This should cause the decrease in the profitability of Japanese bonds and weaken the Japanese yen, thus bringing inflation to a state of growth to 2% over the next two years.
USD/JPY is being trading at the low range – about 93. The sell signal is confirmed. The price is working out a “dead cross”. Yen 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 the cloud.
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 is moving in a negative zone.
The down moving continues. The pair slowly and steady is going down.
Indicators suggest the downward movement.
The first goal of the southern movement is 93.93. If the pair consolidates at this level the downward movement will continue to 93.40.