Recommendation: BUY 0…
USD/JPY: dollar corrected to Kijun-sen
Technical levels: support – 109.00; resistance – 109.750.
- Sell — 109.40/50; SL — 109.70; TP1 — 109.00; TP2 — 108.60.
Reason: bearish Ichimoku Cloud, but Senkou Span A and B are horizontal; a dead cross of Tenkan-sen and Kijun-sen; the market has been corrected to Kijun-sen; waiting to continue of downtrend.
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…