USD/JPY: back again to Cloud

USD/JPY: back again to Cloud

Technical levels: support – 113.70; resistance – 114.40.

Trade recommendations:

  1. Buy — 114.00; SL — 113.80; TP1 — 114.40; TP2 — 114.80.
  2. Sell — 113.60; SL — 113.80; TP1 — 113.00; TP2 — 112.40.

Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen; the bulls can’t breaking out a resistance of Tenkan-sen and Kijun-sen and the prices returned to Cloud.

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