USD/JPY (a 4-hour chart)
On news from the U.S. the pair has reached 100 level for the first time for 4 years. The Initial Jobless Claims in the USA helped the pair to break 100 level.
The pair was trading in a narrow price range at the end of the last week and no one expected an active movement of the pair. At first the USD/JPY rose to the level 99.35. The growth did not stop at this and "bulls" managed to break the 100 level at the end of the trading week.
The pair has almost reached the level 102 which is the maximum that a pair has not been able to reach for 4 years. The U.S. dollar rose against most currencies, USD/JPY was no exception.
The price is above the Kijun-Sen and Tenkan-Sen, Kijun-Sen line is going up, the cloud has a growing shape. The buy signal is strong and confirmed.
The upward movement will be in force until the price is above the Kijun-sen, if the price is fixed below the Kijun-Sen that will weaken or abolish the buy signal.
Bollinger Bands are directed sideways and widening indicating a continuation of the growth.
MACD is growing again.
The nearest resistance level is 101.20, then 101.45 fallows. "Bulls" have to break through 101.80 and 101.55 to return to the previous level.
The pair is trading around the level 101 yen per dollar. The pair can be corrected and go back to 100.55. It is unlikely that the "bulls" retreat from the conquered positions, which they tried for so long to achieve. It makes sense to wait for the correction and start buying from the lower level near 100.50.