USD/JPY (a 4-hour chart)
The pair dollar/yen demonstrate its strong growth. The reason was the Bank of Japan decision at the meeting dedicated to the monetary policy issues. The Japanese regulator unexpectedly announced additional stimulating measures and plans for annual asset purchase increase to stimulate inflation - up to 80 bln. yen from the previously planned volume of 60-70 trillion yen.
The market responded to the news with a high volatility with the US dollar increase against the Japanese yen.
There was the strong resistance level breakthrough of 112.00 amid the fundamental factor.
The price is finding the first support at 112.00, the next one is at 111.50. The price is finding the first resistance at 112.50, the next one is at 113.00.
There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is increasing.
The potential growth targets are the resistance levels: 112.50, 113.00.