USD/JPY (a 4-hour chart)
The dollar/yen has demonstrated a strong growth and completed the session on the new local maxima. Obviously, the resumed growth yield on the U.S. “Treasury” bonds, the prospect of the further easing in the Bank of Japan policy and the decreased geopolitical tensions strengthened the risk appetite and pushed the pair.
The support is at 103.00, the resistance is at 104.50.
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.
The U.S. dollar continues to strengthen its position versus the Japanese yen.
It is worth of noting, that the upward movement is not supported by the trade volumes. The divergence is formed, which may serve as a sign for a temporary short-term correction down.
The growth target is 104.50. Then the approach to 104.60, 104.90 is expected.