Forecast May 16, 2016
Japanese business activity in the services sector declined during the past month, more than forecast. According to the release, which was prepared by the Japanese Ministry of Economy, Trade and Industry, the decline of this index, taking into account the impact of seasonal variations, it was -0.7% previously its value was -0.1%. Analysts expected the indicator to see the decline in April to -0.2%.
Tool tested the 109.00 zone, but keep the position in this field and he could not there was a downward correction.
In the area of 108.20 is the first support below - 107.40. In the area of 109.00 is the first resistance, above - 109.80.
Price is located in the Ichimoku cloud and above the line Chinkou-Span. Tenkan-sen shows the horizontal movement and the Kijun-sen - upward.
The MACD histogram is in the positive zone. The price is adjusted.
Trading recommendations USD / JPY
With a decrease in quotations below 108.20 opens the way to 107.40.
Source Fort Financial Services