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.
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
The US dollar is currently in a correction, but is likely to continue the trend down.
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?