USD/JPY (a 4-hour chart)
The ADP and ISM negative macroeconomic statistics contributed to the US and Japan bond yields reduction which is a bearish factor for the pair USD/JPY. The US stock market weakness points out to the lack of investors' risk appetite «which will also contribute to the bearish sentiment prevalence.
The price is finding the first support at 119.20.The price is finding the first resistance at 120.40, the next one is at 121.60.
The price is under the Cloud and it is in the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement.
The MACD indicator is in a neutral territory. The price is falling.
We expect the 120.40 line break that will open the way for the buyers to 121.60, further then towards 122.40.