The growth of "risk appetite" had a positive impact on investor's sentiment. The leading stock exchanges showed optimism which pressured the yen as a funding currency. Meanwhile, the government bonds yield differential (the US and Japanese) had been declining for several consecutive trading days. However the pair USD/JPY fell on the Wednesday trades.
The price is finding the first support at 108.20, the next one is at 107.40. The price is finding the first resistance at 109.00, the next one is at 109.80.
The price is in the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement.
The MACD indicator is in a positive territory. The price is correcting.
The pair can decrease to the support level of 108.20. We do not exclude the growth to 109.00.