USD/JPY (a 4-hour chart)
The pair USD/JPY practically ignored the US labor market data, published on Thursday where the number of initial jobless claims reached the 5-month high at the level of 282 thousand against the expected 269 thousand. Meanwhile, investors expected the November US retail sales positive release. However the data disappointed traders: 0,2% against the forecasted 0,3%.
The price is finding the first support at 120.40, the next one is 119.20. The price is finding the first resistance at 121.30, the next one is at 122.40.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows a downward movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
The buyers need to break above 121.30 for a steady growth. The way to the mark 122.40 will be opened after this breakthrough.