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: pound entered into Cloud
Technical levels: support – 1.3320; resistance – 1.3420.
- Buy — 1.3320; SL — 1.3340; TP1 — 1.3420; TP2 — 1.3470.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the market is in correction movement to bottom border of the Cloud.
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...