USD/JPY (a 4-hour chart)
The yen fell amid risk-appetite growth. Moreover, investors doubt that the BoJ will reach the targeted 2% inflation in the nearest term.
The neutral tone switched to the bullish one. The pair continued to advance north and was able to test the level 102.50 at the start of NY session. The USD/JPY advanced north away from the moving averages in the 4 hours chart. The 50, 100 and 200 EMAs are following the price and are turning upwards. The resistance can be found at 102.50, the support comes in at 101.40.
MACD grew which confirms the strength of buyers. RSI is in the overbought area.
A consolidation above 102.50 will indicate a start of a bullish phase. We expect further moving upwards as long as the support 101.40 remains intact.