The Japanese currency has been in demand for the last three trading days in a row amid the investors’ escape from the "risky assets". The global stock markets positions closure contributes to the yen quotations growth as a funding currency. The US inflation release shall support the demand for the "risky assets". The number of the US jobless claims was expected 270K against the previous 263K.
The price is finding the first support at 118.40, the next one is 117.80. The resistance is at 119.20, the next one is at 120.40. The price completed the third support level and was not able to breakthrough it.
There is a strong sell signal. The price is below the Cloud now and the Chinkou Span. The Tenkan-sen and the Kijun-sen are directed downwards. The USD/JPY will keep falling until it is below the Cloud.
The MACD indicator is in a negative territory now. The histogram is decreasing.
If the course remains unchanged we will see the pair at the level of 118.40. Otherwise it will return above the 120.40.