USD/JPY (a 4-hour chart)
Yen is again acting as a safe haven, attracting inflows of money. News that the United States intervene in the affairs of Syria continues to overshadow all of the economic data.
We expect that the pair to continue to fall. The short-term resistance lies around 97.78/98.04. A short-term support levels 97.01, 96.80 and 96.40.
Tenkan-Sen and Kijun-Sen are crossed in a descending "dead cross". Kijun-sen is moving in a horizontal direction parallel to the cloud, and the Tenkan-Sen continues to grow. The price is above the cloud. The Cloud is neutral.
Bollinger Bands follow the price up. The indicator shows a high volatility.
MACD is in a positive area and is growing.
Being below strong levels of the resistance to which the price approached on decreasing volumes, the currency pair has all bases to beat off down with the subsequent return to level of support 97.00. The endurance of this level is very high therefore there can be a return rebound up. If that rebound doesn't occur, the descending trend proceeds to the following potential targets: 96.60 96.10 – 96.00.