30, May 2016

USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

National Consumer Price Index remained unchanged contrary to expectations. (-0,3% vs. expectations -0.4%).

Current situation

The pair USD/JPY made growth attempts. Still a strong resistance 110.60 did not let the pair to reach new high. The pair was in a range the second part of the week. Still it managed to grow to 110.60 before the trading week end. The resistance is at 109.80, the support is at 110.60.

MACD is on the zero line giving no signals. The histogram is on the level of the signal line. RSI approached the overbought level of 70.

Trading recommendations

We believe the growth will be continued. The first target is the level 110.60, the next one is 111.40.