USD/JPY (a 4-hour chart)
High rates of U.S. stocks and the overall improvement in risk appetite contributed to the fact that all the cross-rate with the Japanese yen broke above. There has not been no important Japanese economic reports published, the move was caused by the high demand for the currency.
Last fall from yesterday's maximum implies the subsequent retreat to support at its 200-day moving average around 97.27, and the next support - at 97.00.
The price could fix below Chinkou-span, the pair is below the Ichimoku cloud, the sell signal is strong and confirmed.
The downward movement will remain if the price stays below 97.90.
Bollinger Bands indicates the change of the trend.
The MACD is in a negative area right now.
The fall of the U.S. dollar against the Japanese yen had a sloping support line 97.20. There will be a possible rebound from the support line back to the resistance level 97.50. We expect a continuation of the downward trend after the price retests 97.00.