USD/JPY (a 4-hour chart)
Taro Aso’s speech (the Minister of Finance of Japan) was the key event in Japan. The Minister was concerned about the recent Japanese yen strengthening. The high Trade Balance and the profits from touristic business helped Japanese Current Account to grow. The Current Account for February increased to 2,434.9B from the previous value of 520.8B.
The price is finding the first support at 107.40, the next one is at 106.60. The price is finding the first resistance at 108.20, the next one is at 109.00.
There is a confirmed and a strong sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
After the support level of 107.40 breakthrough down the way to the support 106.60 will be opened.