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USD/JPY: the Dollar keep staying under Cloud

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Technical levels: support – 110.50; resistance – 111.20, 111.60.

Trade recommendations:

  1. Buy — 111.00; SL — 110.80; TP1 — 111.60; TP2 — 112.60.

Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the market is under the pressure of the Cloud, but there is strong support on 110.50.

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