USD/JPY analysis for April 07, 2016

8 April, 2016

The yen freshed 18-month highs when Tokyo shares fell and at the same time the oil prices grew. The demand for safe-haven assets helped to strengthen the yen as well. According to Haruhito Kuroda, the Bank of Japan Governor, the Central Bank will take further action to soften the monetary policy if necessary.

The price is finding the first support at 108.20, the next one is at 107.00. The price is finding the first resistance at 109.00, the next one is at 109.80.

There is a confirmed and a strong sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

The potential decrease targets are two levels of support: 108.00 and 107.00.


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