USD/JPY (a 4-hour chart)
Yen Forex Analysis shows that the price continues to develop a sell signal with no signs of a corrective movement.
The current sell signal is confirmed and strong as Chinkou Span is above the price chart and the price is above the Ichimoku cloud. So now the goal for the upward movement is the first resistance level – 93.73.
If this level is overcome the upward movement can be continued to the next one – 94.65.
An upward movement will be relevant as long as the price is above the Kijun-sen (91.65). If the price fixes below this line that will question the further upward movement. Thus the "golden cross" will be weakened and the price may go towards the Ichimoku cloud.
The Chinkou Span is above the price chart which is the confirmation of the current sell signal.
Bollinger Bands shows an upward movement, the bands are expanded and directed upwards, so it is still recommended to go long.
MACD is directed upward that indicates the current upward movement, so long positions will be relevant until a new correction starts.
Should MACD go down or the price bounces from the level 93.73 that could be signal for a correction.
It is now advised to go long with the primary target 93.73. When the first target is overcome the long positions will be relevant for the next level – 94.65.
Stop loss is to be placed below 91.65 and we move it after the price.
You can close long positions manually if MACD turns down or the price rebounds from the level – 93.73.
When getting 30 - 40 profit points stop loss can be moved to a breakeven zone.
Take-profit can be set around levels 93.65 and 94.58.