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USD/JPY (a 4-hour chart)

USD/JPY (a 4-hour chart)

General overview

The US Treasury short-term and long-term securities declined after the jobless claims positive release which with the US stock market reduction points out to the investors' expectations that the Fed may raise the interest rates this year. After the Non-farms positive report the pair has grown.

The Japanese yen upward trend is consolidating towards the levels’ side channels of 123.65 - 124.85. Despite the continuous consolidation, the bullish trend is still in force.

The price is finding the first support at 125.50, the next one is at 124.30. The price is finding the resistance at 127.00.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show are growing. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The indicator is decreasing.

Trading recommendations

The pair can grow to the resistance level of 127.00.


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