USD/JPY (a 4-hour chart)
Japanese yen as currency-shelter, most strongly reacted to the events in Ukraine and Russia. The new sanctions against Russia and the Malaysian airplane crash on the border of Ukraine and Russia provoked a hasty withdrawal from the risk currencies and caused the pair fall. The dollar could return some losses against the yen, despite the fact that Japan's stock market has fallen.
Last week dollar decrease has not led to the low updating at the mark of 101.06.
The price is finding the support 101.00. The price is finding the first resistance at 101.60, the next one is at 102.23.
There is a confirmed and weak sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement, and the Kijun-sen – a horizontal movement and form a “Dead cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is correcting.
The corrective recovery is not supported with volumes. We expect a rebound down from 101.45 that will turn into the downward trend continuation.