USD/JPY (a 4-hour chart)
Last week the yen rose up sharply versus the dollar and has significantly reduced the loss, which it had against the dollar during the week. Probably, such a result was due to a risk appetite decrease, as the U.S. labor report did not impress the investors with positive developments in the employment policy, which was reflected on the U.S. stock markets index decline.
The pair is falling. The Kijun-sen and the Tenkan-sen are directed downwards. The Tenkan-sen is crossing the Kijun-sen down. The northern movement is still strong as the pair is above the Cloud. The Cloud is growing as well. The northern movement remains until Kijun-Sen is below the price.
The support is at 103. The resistance is 103.80.
MACD is in a negative area. The indicator is decreasing showing a sell signal.
As we thought the pair returned to the 103 figure. We expect a small consolidation at this level. If the pair breaks this level it may fall to 102.70 and 102.23.