29, August 2013

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The Japanese yen showed the most impressive achievements against dollar at yesterday's session. It is obvious, events in Syria and the related fears about possible military intervention of the USA were an influence factor in this case. It strengthened the tendency of investors to stay away from risks and increased popularity of Japanese currency as shelters.

Tenkan-Sen and Kijun-Sen are crossed in a descending "dead cross". Kijun-sen is moving in a horizontal direction parallel to the cloud, and the Tenkan-Sen continues to grow. The price is above the cloud. The Cloud is neutral.

Bollinger Bands follow the price up. The indicator shows a high volatility.
MACD is in a positive area and is growing.

Trading recommendations

Ascending correction can help to gain volumes with which the price will try to punch again the level of support 97.00. If it works well an active falling which began yesterday will proceed today.