USD/JPY (a 4-hour chart)
American and Japanese 10 year government bonds yield differential expanded which increased the attractiveness of the US assets. On the other hand the pressure in the Bonds market supported the yen as a funding currency.
The price is finding the first support at 109.80, the next one is at 109.00. The price is finding the first resistance at 110.60, the next one is at 111.40.
There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is correcting.
The potential rebound targets are the support levels of 110.60, 111.40. The decrease targets are 109.80 and 109.00