USD/JPY (a 4-hour chart)
Further sales added a bearish impulse to USD/JPY. In accordance with the daily MACD indicator, recent negative impulse limits the recovery of the pair although the overall picture is still bullish.
The negative dynamics of USD/JPY continues at the unwillingness of the Bank of Japan to add more stimulus. And, in the absence of additional stimulus effects of the Bank of Japan, the pair began to lose ground.
The sell signal is confirmed. The price is below the Ichimoku cloud.
The price is being traded below the Kijun-Sen and Tenkan-Sen, Kijun-Sen line is pointing down, the cloud has a neutral form.
Bands Bollinger Bands formed a side downtrend channel.
MACD began to go down.
If the downward movement continues the pair will go to 94.80. Passing this level the pair will go down to the next support - 94. We do not see that the downward movement is slowing. So the USD/JPY has all chances to test the level 94 and even to fall more.
In the case of a turn our first target will be the level 97.