USD/JPY (a 4-hour chart)
Macroeconomic statistics caused the US and the Japan government bond yields increase which shall support the demand for the US currency. Moderate demand for the "risky assets" will contribute to the carry trade operations increase through the Japanese yen as a funding currency which will also have a positive impact on the pair USD/JPY.
The pair remains in the corridor between the levels of 120.40 and 119.20.
The price is finding the first support at 119.20, the next one is 118.40. The resistance is at 120.40, the next one is at 121.60.
There is a weak sell signal. The price is above the Cloud still it does not mean that a decrease is over. The USD/JPY is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement.
The MACD indicator is in a positive territory. The MACD is growing.
We expect the level of 119.20 will be tested soon. Still the level of 121.60 remains the first target for a growth.