Recommendation: BUY 0…
USD/JPY: Dollar breaking down SSB’s support
Technical levels: support – 110.75, 110.45; resistance – 111.30.
- Sell — 111.00; SL — 111.20; TP1 — 110.45; TP2 — 109.70.
Reason: bullish Ichimoku Cloud, but falling Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with falling Kijun-sen; the prices are breaking the SSB’s support and going to Cloud’s support.
USD/JPY has posted slight gains in the first half of past week as political tumult over Trump's obstruction of justice subsided…
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…