Recommendation: BUY 0…
USD/JPY: bulls prevented by Cloud
Technical levels: support – 110.00, 110.40; resistance – 110.70.
- Sell — 110.40; SL — 110.60; TP1 — 110.00; TP2 — 109.60.
- Buy — 110.80; SL — 110.60; TP1 — 111.40; TP2 — 111.80.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a corretional dead cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the Cloud’s resistance is under the bull’s attack.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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