USD/JPY (a 4-hour chart)
The events at the yesterday's dollar/yen trading session showed non-permanent market views. Investors are more reluctant to take risks, concerning the global economic growth that has put pressure on the US dollar and the levels to which the US dollar fell were good for its sale. As a result, the US dollar traded against the yen in the narrow corridor and it had a very small plus at the end of the day.
The price is finding the first support at 105.70, the next one is at 105.20. The price is finding the first resistance at 106.30, the next one is at 106.70.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is consolidating.
The potential target for the price decline is the support level of 105.20.