USD/JPY (a 4-hour chart)
There is 60% possibility that the FOMC will raise the interest rates on June 15th. The positive statistics from the United States supported the10-years government bonds (US and Japan) which increased the attractiveness of the US assets.
The price is finding the first support at 109.80, the next one is at 109.00. The price is finding the first resistance at 110.60, the next one is at 111.40.
There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movementб forming a “Golden Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is correcting.
The potential growth targets are the resistance levels: 110.60, 111.40.