USD/JPY (a 4-hour chart)
After the US consumer confidence data the dollar/yen is trading with 0.15% decrease. The world stock markets growth is still keeping - the Japanese Nikkei stock index rose by 0.74%.
The investors ignored the sharp industrial production recovery in Japan that rose by 2.7% in September in comparison with August against the expected 2.2% growth.
The USD/JPY was consolidating below the strong resistance level of 108.00 and then it grew. The pair closed the trades above the resistance level of 108.50.
The price is finding the first support at 108.00, the next one is at 107.60. The price is finding the first resistance at 108.50, the next one is at 109.00.
There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is increasing.
The pair can grow to the resistance level of 109.00. After breaking 109.00 the buyers may go to 109.50.