USD/JPY (a 4-hour chart)
There are bank holidays in Japan. There will not be economic news today, however, the yen continues to fall against the dollar. It is obviously that the falling is supported by rumors that the Bank of Japan will continue further policy easing. Naturally on this background the yen remains attractive as funding currency in transactions on the difference in interest rates and therefore there is reason to expect further sales of it.
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 Bands indicator 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, as indicated by trading volumes. However, we have not got a reversal signals yet. The USDJPY is trading above 104.50, which works as a boundary between a pullback down and continued growth rates.
If the price does not fall below the level today, the "bucks" will continue to strengthen, the target will be the level 106.05.