USD/JPY (a 4-hour chart)
The single most influential "stimulus" for the pair USD/JPY was the reports from the Fed last week. The fact that the Central Bank will start the dollar tightening sooner than it was expected provoked a sharp rise in the tool. However, these impressions apparently weakened that could contribute to the Japanese corporations profits repatriation and to stopped the U.S. "Treasuries" growth profitability.
The support level is 102.23, the next one is 101.60. The first resistance level is 103.00, the next one - 103.80.
The pair is growing. Kijun-sen and Tenkan-sen are horizontal. The northern movement is strong. The cloud is neutral. The pair is in the Cloud now. The northern movement remains until Kijun-Sen is below the price.
MACD histogram is in a positive zone. The histogram is decreasing.
The strong resistance level 102.60 retest led to the formation of a two days consolidation.
The 102.60 resistance level is the only obstacle for the bulls. This level break will lead to the medium uptrend continuation. The nearest target at the downward trendline is 103.00. Shall the price consolidate above 103.00 that will allow the buyers to go to the next mark, located at around 103.80.