USD/JPY (a 4-hour chart)
In the absence of Japan and the US important macroeconomic social statistics investors may focus their attention on the Japanese and the US stock market dynamics. S&P500 and Nasdaq set the fresh historical highs that amid the US economic slowdown can make some traders to fix the "longs".
The corrective rebound was stopped and the pair fell again. The level of 119.20 short-term breakthrough was followed by a rebound downwards.
The price is finding the first support at 118.30, the next one is at 117.50. The price is finding the first resistance at 119.20, the next one is at 120.40.
There is a non-confirmed and a weak sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
We do not exclude the falls to 118.30. After the support level of 118.30 breakthrough down the way to the support 117.50 will be opened.