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    USD/JPY (a 4-hour chart)

    USD/JPY (a 4-hour chart)

    General overview

    The Japanese yen was stable on Monday amid the limited trading volumes due to the US and the Japanese holidays. This week investors will focus their attention on the US Wednesday retail sales and the Thursday consumer prices are in search of fresh indications for the consumer spending strength. Meanwhile, the Bank of Japan shall publish the Monetary Policy Committee last meeting minutes.

    The pair remains in the corridor between the levels of 120.40 and 119.20.

    The price is finding the first support at 119.20, the next one is 118.40. The resistance is at 120.40, the next one is at 121.60.

    There is a weak sell signal. The price is above the Cloud still it does not mean that a decrease is over. The USD/JPY is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement.

    The MACD indicator is in a negative territory now. The pair is in a flat.

    Trading recommendations

    The pair is in a flat. The direction is uncertain. The first growth target is the level of 120.40. The decrease one is 119.20.

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