USD/JPY (a 4-hour chart)
After the euphoria Yellen-and -Summers dissolved on Monday, USD/JPY was able to recover from the lows and continued to grow. Bulls should break 99.33 to continue the rally.
However, USD/JPY traders will be influenced by manipulation of the the Fed and the U.S. CPI rumors. The questions about the future of the Fed presidency will force USD/JPY traders to continue to keep an eye on the news about the FED.
The pair found the support at 98.50. The resistance is at 99.33, should the price close above this level that could open up greater potential for a growth in the short term.
Tenkan-Sen and Kijun-Sen are crossed in a descending "dead cross". Kijun-sen is moving in a horizontal direction parallel to the cloud, and the Tenkan-Sen continues to grow. The price is above the cloud. The Cloud is growing.
Bollinger Bands follow the price up. The indicator shows a high volatility.
MACD is in a positive area and is descending.
Corrective gains that occurred after the market opened with a gap came to the downward trend line 99.35. The gap was closed and it is more likely that the downward trend will be continued. To continue the growth it is necessary to break the current support level 99.00, which in its turn opens the way to 98.70, 98.40, 98.00 (weekly trend line).