USD/JPY (a 4-hour chart)
Japanese exporters repeatedly stated the need of measures aimed at weakening of the national currency. The US and Japanese government bond yield differential widened to its highest level since 30th December, 2015, which also played into the hands of the US currency buyers.
The price is finding the first support at 112.20, the next one is at 111.40. The price is finding the first resistance at 113.00, the next one is at 113.80.
There is a non-confirmed and a weak buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement forming a “Golden Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a positive territory. The price is growing.
The upward movement potential target is 113.00. If the price falls it will get to 112.20.