USD/JPY (a 4-hour chart)
The Japanese currency as opposed to the rest of the majors most of the last five days grew against the "buck". The mood to buy yen was created by situation in the U.S. government debt market, where the "Treasuries" yield fell. The dollar was traded in a narrow range against the yen and closed the day with a small minus. In this case, the slightly decreased States bond price and the U.S. housing market yield encouraging report didn’t help to the dollar.
The support is 101.00. The first resistance is 101.60, the next is one 102.23.
The price is in the Cloud and it is above the Chinkou Span. The downtrend movement will be until the price is under the Kijun-Sen.
The MACD indicator is in neutral territory.
Sellers have been trying to break down a strong 101.40 support level for the second week. As long as the price is trading in the downward channel sellers remain strong. The first target is 101. If the pair breaks the first target it will go to 100.60.