USD/JPY (a 4-hour chart)
The Japanese yen fell down sharply versus the dollar. Perhaps, the market is less cautious due to geopolitical events and it is more focused on the financial markets. It is possible, that such a sharp dollar versus the yen rise up was amid renewed the U.S. “Treasuries” yield growth, as well as on the fact that a fiscal year is almost over in Japan and the repatriated profits conversion volumes will be decreased.
The first support is 103.00, the next one - 102.23. The resistance is 103.80.
The pair is growing. Kijun-sen and Tenkan-sen are directed upwards. The northern movement is strong as the pair is above the Cloud. The Cloud is growing as well. The northern movement remains until Kijun-Sen is below the price.
MACD is in a positive area. The indicator is growing showing a buy signal.
If the bounce up will be accompanied by a consolidation, we should expect a rebound up with a further rising trend continuation.
The main targets are the levels 103.80 and 104.50.