USD/JPY (a 4-hour chart)
After a sharp rise the pair started the consolidation. It is most likely that the pair will be traded in a narrow range this week.
The pair slowly continued an upward movement. We will have a buy signal as long as the price is above the Cloud.
The pair is below the Kijun-Sen and Tenkan-Sen, the Kijun-Sen line is going down, the cloud still has au upward form.
Midline Bollinger line is turning down. The indicator lines are narrowing. A correction or a return to the downward movement is quite possible.
The MACD histogram is beginning to go down.
Indicators point to a continuation of the decline.
After the meeting of the Bank of Japan yen predictably began to grow, reaching almost 100 yen per dollar. However, investors have little confidence in the long-term growth without a good economic support.
100 is major psychological level and the couple is not the strength to overcome it at the moment.
We expect the pair to fall to the levels 96.30.