USD/JPY: Dollar entered into Cloud

USD/JPY: Dollar entered into Cloud

Technical levels: support – 112.40; resistance – 113.30.

Trade recommendations:

  1. Sell — 112.30; SL — 112.50; TP1 — 111.90; TP2 — 111.60.

Reason: bullish Ichimoku Cloud with rising Senkou Span B, but horizontal Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen, with horizontal Tenkan-sen and Kijun-sen; the prices are breaking down the SSA’s support and entered into the Cloud.

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USD/JPY: dollar made new lows

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the market made new lows, but there is a strong support on 111.00.

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