USD/JPY analysis for April 14, 2016

14 April, 2016

There were two factors that had pressured the yen: the yen could not resist the growth of Nikkei, and secondly, it fell after Japanese Ministry of Finance comments regarding the possible measures launching aimed at limiting the growth of the national currency.

The price is finding the first support at 109.00, the next one is at 108.20. The price is finding the first resistance at 109.80, the next one is at 110.60.

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 shows an upward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.

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

Trading recommendations

The buyers need to break above 109.80 for a steady growth. The way to the mark 110.60 will be opened after this breakthrough.


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