Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines; the market had corrected to Tenkan-sen and ready to continue the main trend.
USD/JPY: Dollar returned to June’s levels
Technical levels: support – 110.30; resistance – 111.00, 111.50.
- Sell — 111.00; SL — 110.20; TP1 — 110.30; TP2 — 110.10.
- Buy — 110.30; SL — 110.10; TP1 — 111.00; TP2 — 111.40.
Reason: bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen; the prices are bounced from Tenkan-sen and going lower in the negative area.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are corrected to Kijun’s resistance and may continue the downtrend.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with the rising lines; the prices entered inside a Cloud and fixed up above Tenkan-sen.
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…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…