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    USD/JPY (a 4-hour chart)

    USD/JPY (a 4-hour chart)

    General overview

    Japan did not publish anything important yesterday. The pair continued its growth after the Jennet Yellen statements awaiting for the US labor market report which will be released tomorrow. The report is expected with good results for the US dollar. The Fed top manager speeches gave additional impulse for the dollar purchases.

    The price is finding the first support at 121.60, the next one is 120.40. The resistance is at 122.40.

    There is a strong and confirmed buy signal; the pair is above the Cloud. The Tenkan-sen crosses the Kijun-sen upwards. If the USD/JPY remains above the Cloud the growth will be continued.

    The MACD indicator is in a positive territory. The histogram is growing.

    Trading recommendations

    The pair continued its growth. The growth target is the point of 122.40.

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