USD/JPY (a 4-hour chart)
The inflation in July showed a record since 2008. The Consumer prices (excluding food) rose by 0.7 %. The forecast was - 0.6 %.
The prices grow the second consecutive month. The growth was due mainly rise in price of an imported energy. Industrial production rose by 3.2 % after a contraction of 3.1 % in the previous month while economists had expected growth of 3.8 %. Unemployment rate unexpectedly fell in July to 3.8 % from 3.9 %. Experts predicted retention at the same level.
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.
The price continues to consolidate near the resistance level 98.40 being above 98.00. As long as the trade goes up sloping support line, the basic priority remains with the rising trend. But in order to move up the price necessary to break the next resistance level 98.40 that will open the way to the downward trend line 98.70.