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.
USD/JPY: dollar on main support
Technical levels: support – 108.60; resistance – 109.10.
- Sell — 109. 10; SL — 109.30; TP1 — 109.00; TP2 — 108.50.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span B; a cancelled golden cross of Tenkan-sen and Kijun-sen and the falling lines; the Bears made a new lows, but the market is on the strong daily’s support.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the prices are entered into the Cloud.
Recommendation: BUY 111…
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