USD/JPY (a 4-hour chart)
Market participants are not sure whether the Bank of Japan will meet their expectations (increase the size of the asset purchase program and will buy back bonds with longer maturities). Planck is set high. According to the Bloomberg News survey, analysts expect the BOJ to increase the amount of redemption of bonds by nearly 50%, to 5.2 trillion. yen ($ 55.6 billion) per month.
At the same time, the head of the BOJ, in all likelihood, will try to give the market a further idea of the incentive measures that could support the USD/JPY. Pozachera Kuroda said that the regulator wants to combine two different schemes in which it buys government debt, reinforcing expectations of decisive action by the Central Bank.
Yen is above the Kijun-Sen and Tenkan-Sen, Kijun-Sen line directed to the side, the cloud is still going up.
Bollinger Midline followed the price up. The indicator lines are directed to different directions, indicating the uncertainty of the market.
MACD histogram gives a buy signal, the indicator is going upwards.
In the meantime, we should refrain from entering the market and wait until the market is stabilized. Such rapid growth is not common for the pair. It may be the correction or a flat movement.