USD/JPY: Dollar may going lower

USD/JPY: Dollar may going lower

Technical levels: support – 110.70/80; resistance – 111.20.

Trade recommendations:

  1. Sell — 111.00; SL — 111.20; TP1 — 110.45; TP2 — 109.80.

Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen and the lines are horizontal; the prices are under Tenkan-sen and Kujin-sen and ready to go to new lows.

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USD/JPY: dollar made new lows

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the market made new lows, but there is a strong support on 111.00.

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