Technical analysis of NZD/CHF
USD/JPY broke the resistance zone
- USD/JPY broke the resistance zone
- Next buy target - 110.00
USD/JPY recently broke the resistance zone lying between the key resistance level 108.30 (former support from January and February) and the 38.2% Fibonacci correction of the sharp downward impulse from the start of January. USD/JPY is expected rise fall toward the next buy target at next resistance level 110.00 (high of the previous correction 4 from February and the target for completion of wave (3)).
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.