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 tested 3W lows
Technical levels: support – 110.50; resistance – 111.00, 111.30.
- Sell — 111.00; SL — 111.30; TP1 — 110.50; TP2 — 110.10.
Reason: expanding bullish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Kijun-sen; the prices are corrected to Kijun-sen.
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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