USD / JPY forecast on May 16, 2016
President of the Japanese regulator H. Kuroda on Thursday reported that the Japanese Ministry of Finance will be difficult to deliberately weaken the nat.currency to boost exports. Based on the debt dynamics of the market and we can talk about an increase in interest in the assets of Japan: continues to decrease the yield differential of the Japanese state. securities and shtatovskih.
After rising above 109.00 tool resumed bearish movement. Quotes fell to 108.20 support and tested it. Price then attempted to overcome the resistance of 109.00 and pulled back down.
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.
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. The price is adjusted.
Trading recommendations USD / JPY
In the event of renewed growth, Target will be the level of 109.80. If the southern movement of quotations continues, 108.20 mark will act as a target with.
Source Fort Financial Services