USD/JPY (a 4-hour chart)
Japan published a unit of important macroeconomic statistics where we highlight the inflation and the household expenditure. Growing the 10-year Japanese government bonds yields, combined with a reduction in unemployment and moderate wage growth pointed to the yield data within or slightly better than the median forecasts.
The correction movement came close to the resistance level of 124.30.
The price is finding the first support at 123.50, the next one is at 122.40. The price is finding the first resistance at 124.30, the next one is at 125.50.
There is a non-confirmed and a weak buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows an upward movement and form a “Dead Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a neutral territory. The price is consolidating.
The pair can grow to the resistance level of 124.30. After breaking 124.30 the buyers may go to 125.50.