USD/JPY (a 4-hour chart)
The pair continued lowering. Asian stock indices showed an increase in expectation of further interest rate liberalization in China, as well as the rapid growth of the Japanese economy. Kuroda, head of the Bank of Japan said that the Bank of Japan was going to continue soft monetary policy.
The upward movement will be relevant as long as the price is above Kijun-sen. The price broke through the Cloud and it is being traded above it right now. The Cloud is neutral.
Chinkou Span is below the price, which confirms the current sell signal and indicates a bearish market sentiment of the pair.
Bollinger Bands show a continuation of the upward movement.
MACD is on the zero level.
It is expected that trading will take place between Tuesday’s ranges 99.14-100.19. However, the fact that on Monday, the pair closed down, and its range is fully included the range of Friday, as well as the formation of a bearish candle on Monday absorption continue to dominate on the daily chart. Breakthrough of domestic support 99.35 would threaten the 99.14 low and would face further weakness towards 98.88 and 98.69 projected support. A fresh wave of pressure is needed to make a break above 100.19 and open the way to a pair of 100.63 and a maximum of 101.05 on Monday.