30, May 2014

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The dollar fell yesterday against the Japanese yen and finished the session with small but losses. The "greenback" falling interest cause was sharp decrease in the U.S. Treasury bonds yield. The today's April retail sales data also showed a decrease.

The yen strengthened against the negative stock markets dynamics and the Bank of Japan Governor Haruhiko Kuroda comments, which raised the economic situation assessment in the country and said that the economy continued to recover at a moderate pace.

The USDJPY is consolidating at a strong support level 101.35.

The price is finding the first support at 101.60, the next one is at 101.00. The price is finding the first resistance at 102.23, the next one is at 103.00.

There is a non-confirmed and weak 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 indicator is in neutral territory.

Trading recommendations

The indicators do not give certain signals. The market content is bearish though the pair is in the upward movement. The potential sell target is 101.60.

The alternative growth variant is 1021.23.