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USD/JPY: the Dollar on Cloud

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Technical levels: support – 106.80; resistance – 107.50, 107.80.

Trade recommendations:

  1. Buy — 107.10; SL — 107.00; TP1 — 107.80.
  2. Sell — 106.70; SL — 106.90; TP1 — 106.00; TP2 — 105.30.

Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen, but falling Kijun-sen; the prices are on the Cloud’s support.

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