USD/JPY (a 4-hour chart)
Analyzing the yen we can see that the price has formed a "golden cross" being traded above the Ichimoku cloud.
The current buy signal is confirmed and strong as Chinkou Span is above the price, and the price is above the Ichimoku cloud. So now the goal for the upward movement is 100. In the case of overcoming the first target, the upward movement will be continued to the resistance level 100.53.
The upward movement will be relevant as long as the price is above Kijun-sen, if the yen consolidates below the Kijun-sen, the "golden cross" will be weakened and the downward movement may resume to the first level of support 92.16.
Chinkou Span is above the price, which confirms the current buy signal and indicates bullish market sentiment for the pair.
Bollinger Bands show a continuation of the upward movement, the band geared up and broadening, making relevant long positions in the market now.
MACD is directed up, confirming the current uptrend.
The resistance is at June 5 maximum 100.47. A break would target the pair to a June 3 maximum –100.73. In case of further strengthening the pair will go to a May 29 maximum 102.52 and then to a May 22 maximum 103.74. The support is at the Tuesday lowest point 96.95. A break of this level will worsen the short-term positive outlook, targeting the pair to 1.4829, a minimum of June 19 at 94.84 , and then to the reaction low of June 13 at 93.75.
Strengthening above 103.74 will open the way toward 105.49.