USD/JPY (a 4-hour chart)
The Japan and the US bond yields show insignificant fluctuations and in this connection it does not form distinct signals. After the technical correction in the US stock market we expect the bulls return amid the US positive macroeconomic statistics. This factor shall support the pair.
The dollar growth against the yen looks uncertain. There was the strong resistance level of 119.20 breakthrough amid the low volatility and the weak volumes.
The price is finding the first support at 119.20, the next one is at 118.00. The price is finding the first resistance at 120.40, the next one is at 121.60.
There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is growing.
The potential increase targets are two levels of resistance: 120.40, 121.60.