USD/JPY (a 4-hour chart)
The pair was in a narrow price corridor the whole last week still it broke the corridor down. The USA Non Farm payroll impacted the pair having sent it down
Short-term risks remain neutral as the pair is trading in a range limited by the maximum 105.40 and the nearest support near 104.00. Should the price breakout above the high points that will continue the growth in the long-term direction, the target of which is the resistance 110.70.
There is a confirmed and strong sell signal. Chinkou Span is above the price, the price is below the Ichimoku cloud. The southern movement remains until the price is below the Kijun-sen. Tenkan-sen and Kijun-sen are directed down.
Bollinger Bands indicator shows that a downward movement as its bands are expanded and directed downwards. MACD is decreasing, showing a sell signal.
The pair has remained in a flat for a long time. Such a long consolidation is a good signal for rolling back down, but for this price must break through and consolidate below 103.80. In such a case it is expected to approach the rising trendline 104.50, as a rebound.
The falling may continue to 102.23.