USD/JPY (a 4-hour chart)
Tokyo victory for the right to host the Olympic Games can stimulate economic growth. It provides support to the stock market and the pressure on the yen.
The pair rose above the 100 level after sinking under it already 4 times. Yesterday it was trading in a narrow range of 77 points. Confident consolidation over 100 would help to achieve the levels of 101 and 102. Another failure to 100 can send the pair under 99, but it looks like it will not stay there long.
Tenkan-Sen and Kijun-Sen are crossed in a descending "dead cross". Kijun-sen is moving in a horizontal direction parallel to the cloud, and the Tenkan-Sen continues to grow. The price is above the cloud. The Cloud is neutral.
Bollinger Bands follow the price up. The indicator shows a high volatility.
MACD is in a positive area and is descending.
After closing the gap, no corrective gains gave way to a continuation of the downward trend that began on Friday last week. There was a break of 99.80 resistance, through which the growth of rates will continue to the resistance level 100.15
In case of breaking and fixing the price above 100.15, active continuation of the growth to resistance line 100.50 is expected.