USD/JPY (a 4-hour chart)
The Japanese monetary regulator again made clear to the market that the yen devaluation was not a threat to the economy. The US and Japan stock markets growth will support the dollar/yen demand – the high-technology index Nasdaq was again the growth leader, that provides a solid foundation for the bulls in the American market.
The price is finding the support at 107.10, the next one is at 106.70. The price is finding the first resistance at 107.60, the next one is at 108.00.
There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is growing.
After the level of 108.00 breakthrough upward the way to the resistance 108.50 will be opened