NZD/JPY: watch the resistance
NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
USD/JPY: dollar keep staying inside Cloud
Technical levels: support – 109.20, 109.80; resistance – 110.30.
Trade recommendations:
- Sell — 109.70; SL — 109.90; TP1 — 109.20; TP2 — 108.80.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Kijun-sen; the market keeps consolidation inside a 4H-Cloud, but the Bears looks stronger.
Tatyana Norkina
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