USD/JPY (a 4-hour chart)
Because of the unfavorable data on U.S. GDP U.S. dollar falls. Monetary policy in Japan is held in the same direction. Dollar is weaker than yen due to lower yields. The relationship between the yield of treasury bonds of America, and the USD/JPY is still strong.
The program for large-scale stimulus to overcome deflation, the Bank of Japan proposed at the beginning of April, does not do any good.
The pressure on the pair is preserved and enhanced. The yen broke through the 97.80 level and consolidating on it.
The pair is below the Kijun-Sen and Tenkan-Sen, the Kijun-Sen line is directed down, the Cloud is neutral.
Bollinger bands are expanding, the middle line is directed downwards.
The MACD histogram is in a negative zone, below the signal line. The indicator is going down, supporting a sell signal.
The pair is directed downward. If the pressure continues the USD/JPY can go to the level 97.80. The next target of the southern movement is 96.55.
The second scenario is a trading in the Cloud. This scenario is more vital, at least until May 2, the day the interest rates are published in Europe. In this case, the pair will trade in the corridor: 99.30 - 97.80.