30, April 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General Overview

The trading ended in the U.S. dollar favor. Buyers showed intentions to continue the upward growth, having broken the downward channel.

The first support is 102.23, the next one is 101.60. The first resistance is 103.00, the next is one 103.80.

There is a non-confirmed and strong buy signal. The price is above the Cloud and it is above the Chinkou Span.The uptrend movement will be until the price is above the Kijun-Sen.

The MACD histogram is at a zero area.

Trading recommendations

Volumes growth remains at the last week level. There is 102.65 strong resistance on the buyers' way. The resistance might be tested soon for strength.

If the price breaks this level the force buyers will increase that may directly affect the growth sentiment.