USD/JPY (a 4-hour chart)
In early trading Monday, the dollar/yen grew after the U.S. Treasury bonds yield rose and some optimism in the stock market of Japan. However, the Japanese currency regained the lost and finished the day at the opening prices.
It is possible that the approach of the most important events of this five-day period - the publication of minutes of the last Fed meeting, urged investors to be cautious and triggered a return of tarders to the yen.
Trend 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 decline. The price is in the cloud. The Cloud is neutral.
Bollinger Bands follow the price up. The indicator shows a high volatility.
MACD left a positive area.
The limiting resistance is a downward trend line 98.10. Should the price break this line that will open way to a short-term profit - 98.35. If the price consolidate above this level that will allow the bulls to raise prices up to 98.60 - 98.90.
If the USDJPY currency pair fails to break above the downward trend line 98.10, it will go down towards 97.25, 97.00 and 96.70.