USD/JPY (a 4-hour chart)
No important news was published in Japan. In the Bonds market government bond yields differential decreased (the United States and Japan) which reduced the attractiveness of US he assets. Meanwhile, leading stock indicators in the USA and Europe closed in the "green zone" which traditionally put pressure on the Japanese yen as a funding currency.
The price is finding the first support at 109.00, the next one is at 108.20. The price is finding the first resistance at 109.80, the next one is at 110.60.
There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is increasing.
We believe the growth will be continued now. The first target is the level 109.80, the next one is 110.60.