USD/JPY (a 4-hour chart)
The yen weakened after the OPEC decision to reduce oil output. Moreover, the
The bearish trend remained intact. The yen erased its latest gains on Friday, but closed the day in the green. A bullish spike faded around 101.70 and the price had to return below 101.40. The USD/JPY broke the 100-EMA and tested the 200-EMA in the 4 hours chart. However, buyers failed to hold above the 200-EMA and the price rolled back. The resistance is at 101.40, the support comes in at 100.40.
MACD remained at the same level which confirms the strength of buyers. RSI is within the overbought territory.
The bearish trend remained intact. All buyers attempt to raise the price were unsuccessful. The price will remain in a range between 101.40 and 100.40 waiting for new drivers.