USD/JPY (a 4-hour chart)
The bearish sentiment dominated amid the traders' escape from the US dollar and amid the Mr. Kuroda statements, concerning the oversold Japanese yen. Later, however, there was a demand for the dollar. The positive retail sales may contribute to the US two-years bond yields above 4-year maximum of 0.752% which had a positive impact on the US dollar.
After a decline more than 200 points the price recovered its position.
The price is finding the first support at 123.50, the next one is at 122.40. The price is finding the first resistance at 124.30, the next one is at 125.50.
The price is in the Cloud and it is below the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead cross”.
The MACD indicator is in a negative territory. The price is correcting.
The potential decrease targets are two levels of support: 123.50, 122.40.