USD/JPY (a 4-hour chart)
The Japanese yen was weaker against the most major currencies on Thursday as the "risk appetite" continues to recover. The mood of the market has improved but that does not mean that the future of Japanese economy got brightened. Economic reports raise new concerns about the strength of the country's reconstruction. Retail sales fell 1.8 % in July, it is more serious than economists expected. Cost reduction does not bode well for the plans of Prime Minister Abe to increase the consumption tax. If spending growth has slowed a higher consumption tax can make a more modest Japanese GDP.
Tenkan-Sen and Kijun-Sen are crossed in a descending "dead cross". Kijun-sen is moving in a horizontal direction parallel to the cloud, and the Tenkan-Sen continues to grow. The price is above the cloud. The Cloud is neutral.
Bollinger Bands follow the price up. The indicator shows a high volatility.
MACD is in a positive area and is growing.
It is possible that there will be a short-term kickback down to the support line after which the price will test resistance on durability once again. If the price manages to break the level the growing is expected. The first target of the growth is the week trend line 98.70. The break of the line will open the way to the resistance 99.00 – 99.15.