USD/JPY: downtrend continues

USD/JPY: downtrend continues

Technical levels: support – 108.70; resistance – 109.90.

Trade recommendations:

  1. Sell — 109.90; SL — 110.10; TP1 — 109.10; TP2 — 108.70.

Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen; the prices formed a new lows, but market is oversold and Dollar may go to Tenkan-sen.

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