USD/JPY (a 4-hour chart)
The dollar got under pressure after Fed of in Atlanta and J.P Morgan Bank forecasts publication. The first one downgraded the forecast for the US economic growth to + 0.1%. Meanwhile, Morgan Bank revised its forecast to + 0.2% from + 0.7%. These forecasts pressured the dollar. Risky assets sales once again supported the yen as a funding currency.
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.
The potential decrease targets are two levels of support: 107.40 and 106.60.