USD/JPY (a 4-hour chart)
Manufacturing PMI was published in the United States at the level of 51,4 against the forecasted 51,8. The United States upset investors with the weak macroeconomic statistics: Existing Home Sales decreased by 7.1% for February. The Existing Home Sales fell by 6.7% from January to March.
The first support resides at 112.20, the next is at 111.40. The first resistance stands at 113.00, the next one is at 113.80.
There is a confirmed and a strong sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement. 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 buyers need to break above 113.00 for a steady growth. The way to the mark 113.80 will be opened after this breakthrough.