Fort Financial Services - Analytics

    Fort Financial Services

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    USD/JPY (a 4-hour chart)

    USD/JPY (a 4-hour chart)

    General overview

    The dollar in the USD/JPY fell when Japan postponed the planned sales tax increase. The Japanese government decided to move from the monetary policy easing to economic stimulus.

    Current situation

    The yen continued falling. The pair set a new local low level at the mark 108.80. The pair broke the level of 109.00 and stopped to consolidate. The resistance is at the level of 109.00, the support is at 108.20.

    MACD is in a negative area. The signal line is in a histogram. MACD showing sell signal. RSI reached the oversold level of 30.

    Trading recommendations

    We suppose the flat will be continued. We do not exclude the growth to 109.00.

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