USD/JPY: dollar testing Cloud’s support

USD/JPY: dollar testing Cloud’s support

Technical levels: support – 112.40; resistance – 113.00.

Trade recommendations:

  1. Buy — 112.50/60; SL — 112.30; TP1 — 113.00; TP2 — 113.50.

Reason: narrowing bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are entered into the Cloud, but supported by Senkou Span B.




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