USD/JPY (a 4-hour chart)
The pair fell slightly after Japanese Finance Minister Taro Aso said the revision of the high corporate tax rate in Japan was a long-term question. The fall of the pair can be limited by the level 98.50, as many investors refrained from major bets on the eve of mid-year transactions completion in Japan on Monday.
The 4H shows that the pair rebounded from the resistance level of 99.10 and stopped at MA 15. The general trend in the market is "bullish", as evidenced by the rising price channel. MACD is in the negative area, histogram bars are under the signal line, but they are still growing.
The current sell signal is strong and confirmed, as Chinkou span entrenched below the price and the price is below the Ichimoku cloud
The downward movement will be relevant as long as the price is below the critical Kijun-sen line if the price consolidates above the Kijun-sen, the "dead cross" will be weakened and may be canceled.
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 below the cloud. The Cloud is growing.
Bollinger Bands follow the price up. The indicator shows a high volatility.
MACD is in a negative area.
We expect a sideways movement in the range of 98.45 - 99.30.