EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum.
USD/JPY: dollar can’t breakout SSA’s resistance
Technical levels: support – 113.00, 112.80; resistance – 113.60.
- Buy — 113.00; SL — 112.80; TP1 — 113.60; TP2 — 114.00.
Reason: narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.
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.