USD/JPY (a 4-hour chart)
The yen fell reaching 105.14 area. Obviously, the yen is under the pressure that is related with the release of Bank of Japan minutes which showed a slowdown in the economy and this may lead to new equity programs.
We believe that the pressure will remain and will be limited only by technical levels.
There is a confirmed and strong buy signal. Chinkou Span below the price, the price is above the Ichimoku cloud. Northern movement remains until the price is above the line Kijun-sen. Tenkan-sen and Kijun-sen are horizontal.
Bolinger shows that the upward movement will be continued as its bands are expanded and directed upwards. MACD is decreasing, showing a sell signal.
The upward trend is weakening, trading volumes confirm that. However, we have not received a reversal signals yet. The USD/JPY is trading above 105.34 level which serves as a boundary between pullback down and a continued growth rates.
If the price does not fall for the level 105.34, the "bucks" will continue strengthening; the target will be the level 106.05.