NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
GBP/USD: market supported by Cloud again
Technical levels: support – 1.2960; resistance – 1.3070.
- Buy — 1.2980; SL — 1.2960; TP1 — 1.3070; TP2 — 1.3150.
Reason: narrow bullish Ichimoku Cloud; horizontal Senkou Span A, but rising Senkou Span B; an irregular dead cross of Tenkan-sen and Kijun-sen over the Cloud; the prices are supported by Cloud and may go higher.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...