USD/JPY (a 4-hour chart)
The yen strengthened against other major currencies on Tuesday. The yen became popular when oil prices fell again and caused the shares decline. The USA published Existing Home Sales (0,8% against the forecasted 0,9%), Existing Home Sales Change (5,47M against the forecasted 5,32M) and Consumer Confidence (92,2 against the forecasted 97,0) reports.
The first support resides at 111.40, the next is at 110.60. The first resistance stands at 112.20, the next one is at 113.00.
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 a horizontal movement and the Kijun-sen shows a downward movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is consolidating.
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. The sellers need to break below 111.40 for a steady decrease. The way to the mark 110.60 will be opened after this breakthrough.