USD/JPY: Long Position

Looking at the market on a 4 hourly time frame there is potential for the current resistance to be broken. The green of the Ichimoku cloud illustrates the bullishness of the market on this time frame. Furthermore, when using the stoch RSI its clear the market is returning from the oversold position.

These indicators offer support for a potential for a long entry if the 110.637 position is broken soon, which could be likely as the market hovers around the resistance more sell positions are bought up and thus can allow with sufficient volume for a potential clean break to a position we haven't seen broken this year, around and above the 111.109 price.

TradingView, 2019.