Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
USD/JPY: dollar is oversold
Technical levels: support – 110.90; resistance – 111.50.
- Buy — 110.90; SL — 110.70; TP1 — 111.50; TP2 — 111.80.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the market is oversold and supported by 111.00.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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