The yen kept falling and reached the three-week highs during Friday. The Japanese currency is under pressure after the Bonds market growth. If the situation does not change the Japanese regulator may implement new softening measures.
Current situation
We see no change in USD/JPY outlook. The growth from 98.97 is still seen as a correction and it seems to be over. The pair sharply decreased on Friday and lost about 0.47%. Sellers seem to have returned to the market. The resistance is at 105.30, the support comes in at 104.50.
MACD remained in the positive territory, however, its histogram decreased which indicates the buyers’ positions weakening. RSI left the overbought area which is another sell signal.
The pair is coming back to the 200-EMA which acts as a support in the 4 hours chart. The 50-EMA and the 100-EMA are still moving upwards which is a buy signal.
Trading recommendations
The price is expected to fall towards 103.50. Alternatively, the pair will resume its growth - Fort Financial Services experts said (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
