NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
USD/JPY: the Bears have won
Technical levels: support – 109.50; resistance – 110.00.
- Buy — 109.50; SL — 109.30; TP1 — 110.00; TP2 — 110.40.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines; the market inside a Cloud, but supported by Senkou Span A – waiting for correction to Kijun-sen.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...