USD/JPY (a 4-hour chart)
The yen weakened following the OPEC agreement to limit oil output to 32,5-33,0 million bdp.
The dollar rallied during the course of trades on Thursday. The price was able to break the level 101.40, but it failed to extend its growth and retreated to the broken level. The USD/JPY is trying to consolidate its gains now. The price broke the 50 and 100-EMAs and touched the 200-EMA in the 4 hours chart. The 50-EMA is turning upwards, the 100 and 200 EMAs are moving lower. The resistance is at 101.40, the support comes in at 100.40.
MACD is in the positive area. The histogram grew which indicates the buyers’ strength. RSI is in the overbought territory.
A clear strength above the immediate resistance will pave the way for a continuation of the pair's upward trajectory. The price may grow towards 102.00.