As is the custom, every new month in the financial market often presents long-term, swing trading opportunities for traders like you and me. Even better, FBS is usually there to provide insights into the expected trading opportunities through such analytical pieces as this.
USD/JPY: Dollar corrected to Kijun-sen
2019-11-11 • Updated
Technical levels: support – 105.50; resistance – 106.50.
- Sell — 106.20; SL — 106.50; TP1 — 105.50; TP2 — 105.10.
Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan; the market had corrected to Kijun’s resistance and now may continue the downtrend.
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