The Japanese and the US negative bond yields grow that is a bullish factor for the dollar as they increase the investments attractiveness in the US assets. The world leading stock markets are showing their weakness that on the contrary will support demand for the Japanese yen as a funding currency.
Analyzing the yen exchange rate we see that the price is decreasing. The support level of 120.40 was broken downwards.
The price is finding the first support at 119.20, the next one is at 118.40. The price is finding the first resistance at 120.40, the next one is at 121.60.
The price is in the Cloud and it is under 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.
The pair can decrease to the resistance level of 119.20. After breaking 119.20 the sellers may go to 118.40.