USD/JPY (a 4-hour chart)
The Japanese yen continued strengthening against the "greenback." The pair was supported by the events in the U.S. stock markets and Japan, where stock prices fell again. Moreover, the Bank of Japan decided not to stimulate the economy. The Bank is sure that the Economy will keep recovering.
The pair is falling. The USD/JPY has broken 103, 102.23 and tested 101.60.
The Kijun-sen and the Tenkan-sen are directed downwards. The Tenkan-sen is crossing the Kijun-sen down. The southern movement is strong as the pair is below the Cloud. The Cloud stopped growing and turned down. The southern movement remains until Kijun-Sen is above the price.
The support is at 101.60. The resistance is 102.23.
MACD is in a negative area. The indicator is decreasing showing a sell signal.
We think that 101.60 will slow down the descending. The price may bounce up to 102.23 or even higher 103. If the descending is resumed the pair will fall to 101.