USD/JPY (a 4-hour chart)
The U.S. dollar corrective strength has allowed buyers to break up another strong resistance level of 101.75.
The trading volumes form divergence, indicating an easing buying power. In addition, growth rates fell to the downward trend line of 102.23, which may discourage the price down.
The price is finding the first support 101.60, the next one is at 101.00. The price is finding the first resistance at 102.23, the next one is at 102.70. There is a non-confirmed and weak buy signal. The price is above the Cloud and it is above the Chinkou Span. The upward movement will be until the price is above the Kijun-Sen.
The MACD indicator is in the positive territory.
The trend line strength will be tested after the USD important fundamental data release. If buyers don’t to break above 102.23, we expect the price bounce down. The main targets for price decrease are 101.60,