USD/JPY: Dollar tested Cloud’s resistance

USD/JPY: Dollar tested Cloud’s resistance

Technical levels: support – 110.40, 110.75; resistance – 111.40.

Trade recommendations:

1. Sell — 111.20; SL — 111.40; TP1 — 110.75; TP2 — 110.40.

Reason: bearish Ichimoku Cloud, but rising Senkou Span A; a cancelled dead cross of Tenkan-sen and Kijun-sen; the prices are under resistance of Senkou Span A.

jpy

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EUR/USD found a double bottom

On the daily chart of EUR/USD, bulls are trying to form a double bottom with the help of a bar with the long lower shadow. Bears are still hoping to trigger AB=CD pattern with targets 127.2%, 161.8%, and 200%.

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