USD/JPY (a 4-hour chart)
There are still holidays in Japan; however it did not preserve the yen from a consolidation versus the dollar and other majors. The increased risk provoked investors’ massive return to the yen as a refuge currency.
There is a confirmed and strong buy signal. Chinkou Span below the price, the price is above the Ichimoku cloud. Northern movement remains until the price is above the line Kijun-sen. Tenkan-sen and Kijun-sen are horizontal.
Bolinger Bands indicator shows that the upward movement will be continued as its bands are expanded and directed upwards. MACD is decreasing, showing a sell signal.
The upward trend is weakening, as indicated by trading volumes still we have not received a sell signal yet. The pair is still above the Cloud. If the pair breaks the Cloud it will fall to 104.50 and then to 103.80.
Still it has chances to continue growing. The first target is the mark 105.