USD/JPY (a 4-hour chart)
Last week, USD/JPY broke through the 100 level and managed to consolidate above it. With the opening of the market on Monday, the pair was being traded near the 101.90 level. Later, the pair reached a new high, the level 102.15 and then corrected to 101.70.
Now the pair is slowing, it is possible a lateral movement or a correction.
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 cancel the buy signal.
Bollinger Bands are directed upwards and widening indicating a continuation of the growth.
The MACD has stopped growing, the histogram has reached its maximum. The signal line can cross the histogram down in the near future, giving a sell signal.
The nearest resistance level is 102.20, then 103 goes. "Bulls" have to break through 101.80 and 101.55 to return to the previous level.
The pair is trading around the level 102 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.