The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
USD/JPY: Dollar returned to Cloud
Technical levels: support – 110.40; resistance – 111.40.
1. Sell — 111.20; SL — 111.40; TP1 — 110.00; TP2 — 109.40.
Reason: bearish Ichimoku Cloud, but Senkou Span A is rising; cancelled dead cross of Tenkan-sen and Kijun-sen; the prices are under strong resistance of the Cloud.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…