USD/JPY: Dollar is overbought

USD/JPY: Dollar is overbought

Technical levels: support – 111.20, 110.50; resistance – 111.90/112.00.

Trade recommendations:

  1. Sell — 111.90; SL — 120.10; TP1 — 111.20; TP2 — 110.500.

Reason: weak bullish Ichimoku Cloud, horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; a market is overbought and expected a correction movements.

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