On the daily chart, bears are trying to keep USD/JPY inside the long-term downtrend channel.
USD/JPY: dollar making new highs
Technical levels: support – 110.50; resistance – 111.10, 111.60.
- Buy — 110.50; SL — 110.30; TP1 — 111.10; TP2 — 111.60.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a strong golden cross of Tenkan-sen and Kijun-sen with rising lines; the market is made a new highs but overbought now.
On the daily chart, EUR/JPY reached 88.6% target of the “Bat”.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…