Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak goldean cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are on the weak Kijun’s support.
USD/JPY: Dollar stuck in the Clouds
Technical levels: support – 111.00; resistance – 112.20/30.
- Buy — 111.50; SL — 112.30; TP1 — 112.20; TP2 — 113.20.
Reason: bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak dead cross of Tenkan-sen and Kijun-sen; the prices are on the SSA.
Bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; a market is overbought and under the strong resistance of 0.8030.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel Tenkan-Kijun; the market is in correction phase.
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