USD/JPY (a 4-hour chart)
There was not so much liquidity during the global trading day as the US financial markets did not work due to the national holiday.
The pair is under pressure because of the deteriorated relationship towards the dollar on the February consumer confidence preliminary index unexpected decrease, according to the University of Michigan, to 93.6 from 98.1 in January, with the growth forecast to 98.3.
The sharp prices decline from the resistance level of 120.40 was followed by the level of 119.20 breakthrough. The pair is decreasing towards 118.00 amid the lower volumes.
The price is finding the first support at 118.00, the next one is at 117.00. The price is finding the first resistance at 119.20, the next one is at 120.40.
The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement and form a “Dead Cross”.
The MACD indicator is in a negative territory. The price is decreasing.
The potential growth targets are the resistance levels: 119.20, 120.40.