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USD/JPY: Dollar in consolidation

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Technical levels: support – 105.80; resistance – 106.20.

Trade recommendations:

  1. Sell — 105.70; SL — 105.90; TP1 — 105.00; TP2 — 104.50.

Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the market is in consolidation near Tenkan-sen and Kijun-sen, but may continue downtrend.

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