Forecast USD / JPY 02.05.2016
JPY on the agglomerated ink last week. Japanese regulator has refrained from increasing the current easing, and investors began to leave the Japanese market. Tool dollar / yen collapsed. Reduction of contributed and a hint of the Fed to hold off on raising rates. In Japan, on Friday was a holiday. States have presented the main index of the cost of private consumption in March. These came to the forecast at 0.1% m / m, the February value was 0.2% m / m.
The tool has shown a sharp fall from 111.40 to 108.20 below the minimum mark. reduction was recorded at 350 points. Later, quotes from the area adjusted to marks above 108.00. Then the decline resumed, and the pair dropped to the 106.60 support.
In the area of 106.60 is the first support below - 105.80. In the area of 107.40 is the first resistance, above - 108.20.
A sell signal is strong and confirmed. The price is below the Ichimoku cloud and Chinkou-Span is above the price level. Tenkan-sen shows the downward movement and the Kijun-sen - the horizontal. The urgency of the downward movement will continue as long as the price is below the Ichimoku cloud.
Histogram MACD is in the negative zone. Price reduced.
priority remains with the bearish momentum with Target 106.60. The loss of this level will free the way to 105.80.
Source Fort Financial Services