USD/JPY (a 4-hour chart)
The bearish sentiment dominated at the market. Instability around Greece have a negative impact on the global stock markets, which favored to the carry trade deals closing and lead to a demand for the Japanese yen as a funding currency. There were two sectors outsiders in the US stock market: the financial and high-tech ones which indicates a very low "risk appetite".
The price is finding the first support at 121.60, the next one is at 120.40. The price is finding the first resistance at 122.40, the next one is at 123.50.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is consolidating.
After the trend line 121.60 breakthrough down the way to the support 120.40 will be opened.