USD/JPY (a 4-hour chart)
The pair continues to receive the support around the area 102.30, and therefore the risks remain bullish and we expect an uptrend to test the maximum 105.40. At the same time, the consolidation below 102.30 could trigger another cut to the key support at the area 100.00-100.40. However, only a break and the consolidation below 100.00 remove completely positive expectations signaling the transition to the long-term correction.
There is a confirmed and strong buy signal. Chinkou Span is below the price, the price is above the Ichimoku cloud. Kijun-sen and Tenkan-sen are horizontal. The Cloud is growing as well.
Bollinger Bands indicator shows a lateral movement as its bands are narrowing and directed aside. MACD is growing, showing a buy signal.
Despite the constant bounce from the level lows the price gradually grows, forming an ascending triangle. If the currency continues to trade in the direction of the rising trend line, the following approach to the resistance level 102.60 may become a breakdown.