AUD/NZD experienced an impressive rally since the end of March.
USD/JPY: Dollar is overbought
Technical levels: support – 111.20, 110.50; resistance – 111.90/112.00.
- 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.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…