USD/JPY (a 4-hour chart)
The dollar/yen is quite sensitive on the U.S. labor market data, as it has a tendency to move with the U.S. Treasury yields.
Following the publication on Thursday of data on the ISM index in the manufacturing sector, which turned out to be stronger than expected, the pair managed to break through key resistance level.
If the data on the increase in the number of jobs will be disappointing, the support will be based initially at the level 98.76, which is the tip of the daily Ichimoku cloud, and then at 97.51 which is the minimum of the last week.
Price managed to break the Ichimoku cloud and is being traded at its lower boundary, so far cancelling the growth.
Kijun-Sen and Tenkan-sen form a "gold cross" on the daily chart. Both lines are directed to the side now, parallel to each other. The market has an upward character.
Bollinger Bands follow the price down. The indicator shows a high volatility.
MACD is growing, confirming the current upward movement.
We are watching forming the uptrend structure of July, 31. The short-term uptrend is possible within the corridor 99.82 – 100.24, and the breaking of the latter must be followed by the strict uptrend, and in this case the target is 101.04, within the corridor 101.40 – 101.32 there will be the consolidation of the price.
The short-term downtrend is possible within the price corridor 98.90 – 98.65, breaking of which may lead to deepening of the correction, and the target is 98.27 here.