We noted the "bearish" sentiments prevalence. The lack of demand for the "risky assets" contributed to the carry trade transactions closure that will cause demand for the Japanese yen. The negative trend is confirmed by the debt market: the US and Japan 10-year bond yields are reducing which is clearly at the "bears" hands.
There was the support level of 123.50 breakthrough which was followed by the very low volumes.
The price is finding the first support at 122.40, the next one is at 121.60. The price is finding the first resistance at 123.50, the next one is at 124.30.
The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement.
The MACD indicator is in a negative territory. The price is decreasing.
We may expect the growth towards 123.50 further on we expect a fall to 122.40.