USD/JPY (a 4-hour chart)
The US and Japanese government bond yields differential extended which increased the attractiveness of the US assets. The USA published Inflation report: Consumer Price index for April (0,4% vs. previous value of 0,1%).
The price is finding the first support at 109.00, the next one is at 108.20. The price is finding the first resistance at 109.80, the next one is at 110.60.
There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is correcting.
We expect the 109.80 line break that will open the way for the buyers to 110.60.