USD/JPY (a 4-hour chart)
Even though the USD/JPY remained under pressure it recovered yesterday. The demand for the safe assets decreased that let to the USD/JPY growth. At the same time, the stronger the pair falls, the higher is probability that the BoJ will interfere. The regulator has already promised in June to use an intervention in case of Brexit.
The USD/JPY remained under pressure. However the pair formed a consolidation yesterday. The USD recovered and reached the mark 102.80. The resistance is at 103.50, the support stands at 102.50.
The indicators moved away from extremum. MACD remained in the negative area, still its histogram grew, that weakened the sell signal. If the indicator remains in the undervalued area the pair will decrease further. RSI is in the neutral area. If the oscillator decreases that will be a sell signal. If RSI growth, that will be a buy signal for us. The USD/JPY is below the Moving Averages (50, 100 and 200) which are moving downwards. The 50-day moving is the closest resistance for the instrument.
If the USD/JPY does not get new drivers it will remain between 103.50- 101.40.