USD/JPY (a 4-hour chart)
The US and Japanese government bonds yields differential expanded which increased the attractiveness of the US assets. The Bank of Japan plans to introduce negative interest rates on some loans.
The price is finding the first support at 111.40, the next one is at 110.60. The price is finding the first resistance at 112.20, the next one is at 113.00.
The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. Both lines form a “Golden Cross”. The upward movement will be continued until the price gets below the Cloud.
The MACD indicator is in a positive territory. The price is growing.
The pair is heading towards the resistance of 112.20. Still the USD/JPY may turn down to correct. The correction targets are 111.40 and 110.60.