Recommendation: BUY 0…
USD/JPY: Dollar made new local lows
Technical levels: support – 110.00; resistance – 110.50.
- Sell — 110.50; SL — 110.70; TP1 — 110.00; TP2 — 109.60.
Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with the falling lines; the prices are made the new lows, but the market is oversold.
USD/JPY has posted slight gains in the first half of past week as political tumult over Trump's obstruction of justice subsided…
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…