Forecast May 17, 2016
Japanese price index for corporate goods in annual terms contrary to the predictions recorded last month decrease. According to the Central Bank presented the Japanese release, the rate in annual terms, taking into account seasonal variations, was -4.2%, the value was -3.8% in the previous month. Experts expect to see growth in the April figure to -3.7%.
Tool conducted trades below 109.00 resistance and only to their closure tested this level.
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.
A buy signal is strong and confirmed. Price is above the Ichimoku cloud and above the line Chinkou-Span.Tenkan-sen and Kijun-sen demonstrate horizontal movement. The urgency of the upward movement will continue as long as the price is above the Ichimoku cloud.
The MACD histogram is in the positive zone. Price increases. Trading recommendations If the upward movement will continue, the Target address the level of 109.80. In the case of the new reduction goal will be to mark 108.20.
Source Fort Financial Services