USD/JPY (a 4-hour chart)
The head of the Bank of Japan Haruhiko Kuroda said that the Japanese economics would continue a moderate recovery even if the sales tax were increased. He also added that the Central Bank was going to monitor the risks and adjust monetary policy if it was necessary.
According to Hideki Matsumura’s words, the senior economist of the Japan Research Institute in Tokyo, the U.S. Federal Reserve’s actions confirm that the downward trend of the yen will be continued and the economic recovery of the United States would help to an exports increase from Japan.
The sell signal is cancelled. We have a confirmed and strong buy signal. Chinkou Span below the price, the price is above the Ichimoku cloud. Northern movement remains until the price is above the line Kijun-sen. Tenkan-sen and Kijun-sen are horizontal.
Bollinger bands show the upward movement.
MACD histogram crossed the zero line upwards, giving a signal to buy.
The corrective reduction to the support slanting line 104.00 was accompanied by a small consolidation. It is a good signal for a bounce up.
The more time the price consolidates in 104.00, the higher is probability of its bouncing up. The potential rebound goal will be the maximum of the last week – 104.50.